Wave 2 Forms
Wave 2 (red) has completed or is about to complete. We should expect Wave 3 (red) to form next week. Typically a wave 3 will rise quickly and steeply, probably with a gap up. Get ready to pick stocks, but be careful that the wave count may be in error. The wave count will be validated if the STI rises sharply above the top of Wave 1 (red).