Finishing Diagonal
The STI is forming Wave 5 (red) to complete the diagonal. Upon completion, the STI will drop substantially, down to about the beginning of the diagonal, ie. about 3140. Take advantage of the current uptrend to cash out before the plunge.
The alternative wave count described in last week’s blog is still possible. Thus the currently labelled Waves 3, 4 and (partial) 5 in red could be subwaves i, ii and iii of a big Wave 3 (red). For now I am taking the conservative wave count as shown in the chart,