Massive Decline
After failing several attempts to form an uptrend, the STI suffered a massive decline this week with a big gap down. The wave count has been amended, but it is tentative, as the STI could drop further next week to test the prior low of 2968.87 on 25 October 2022. Instead of continuing to struggle along sideways for such a long time, the index has to swallow a drastic correction in order to recover from its malaise. We can only hang on tight.