Supplement: Uptrend?
Trump’s announcement that he will meet with Xi Jinping at the G20 has turned global markets around. I have adjusted my daily chart to reflect this, as shown above. The recent bottom could have been the end of the long correction. The big gap up today signals wave 3 action.
This latest wave count will be confirmed if and when the STI breaks out of the correction channel as shown by the arrow, whether by the Subwave iii or a subsequent Subwave v. However it should be noted that the previous wave count in my previous blog is still valid for now.