Supplement: Warning
This is a quick supplement to warn of a correction in the STI that is starting to form. Although today there was a higher high, there was a lower low and the STI closed near the intraday low. This signals that a top has formed, with Minor Subwave v (black) having completed, which completed Subwave iii (red). Subwave iv (red) is forming which will move mainly sideways, although the fluctuations could be large due to high volatility. It would be wise to take some profit and wait for Subwave v (red) to start after Subwave iv (red) completes.