Further Down?
The STI appears to have completed its corrective wave with three subwaves, but I do not think so. The Subwave c (brown) should go down by at least the same length as Subwave a (brown). Actually it has formed only two minor subwaves and needs to fully form the third leg.
In any case the STI is still well within the large correction structure enclosed by the two parallel blue lines. And the risk remains that it may test the bottom blue line again.
Not a happy Christmas for investors who are long on stocks, but anyway Merry Xmas to all!