Subwave 3
Indeed the wave count is correct, as the uptrend continued to surge this past week. Subwave 1 (black) had a gap up, called a breakaway gap. Subwave 3 (black) which is still in formation, had a large gap up, called an acceleration gap. It is common that the middle of the acceleration gap is also the middle of the third wave, So we can expect that the STI is likely to continue towards about 3300, before going into its Subwave 4 correction.