Uptrend
The STI shot up over the last two days, with a gap up. Today it had a lower intraday low and a lower high. This indicates a correction. However the close today was near the intraday high, which is a good sign. The correction is a Subwave ii (red) which may or may not continue early next week. But my expectation is that it should be over soon and Subwave iii (red) will start next week. These are subwaves of Wave 3 (red) which should rise to well above the top of Wave 1 (red) at 3466.23. Pick and choose carefully your re-entry points into the market.