Uptrend
The STI has shot above the top line of the triangle but has dropped back since. It has formed two subwaves, Subwave i (red) and Subwave ii (red) and should continue with Subwaves iii, iv and v next week. Its completion will be the completion of Major Wave 5 (blue). The STI will subsequently suffer a significant drop. We will cross that bridge when we come to it. In the meantime enjoy the bull run on your portfolio.