In Correction
The STI dropped substantially today and invalidated last week’s wave count. The revised wave count is as shown. It shows that the recent uptrend has completed and is labelled Subwave iii (red). The STI is now forming Subwave iv (red). This count is tentative, as a fourth wave usually goes sideways and does not drop so sharply. Perhaps global uncertainties caused the high volatility. Let us see how the STI behaves next week.