Uptrend Maintained
The STI’s uptrend is maintained. You can see in the chart that Minor Subwaves i, ii, iii and iv, in orange have been formed. These are the Minor Subwaves of Subwave iii (brown), which will be completed with the formation of Minor Subwave v (orange) next week.
It is interesting to see that the blue horizontal line at 3341 acted as resistance, as expected, right at the top of Minor Subwave iii. Minor Subwave v should break through this resistance. It is possible that Minor Subwave iv may meander sideways a bit before Minor Subwave v starts.
So far the Elliott Wave Principle rules have been followed. I have checked by looking at the hourly chart of the current uptrend as shown below:
The fractal nature of the waves is evident, with the hourly waves and their subdivisions also following the Elliott Wave Principle rules for motive and corrective waves.
Of course you can also apply the Elliott Wave analysis to specific stock charts and I hope that my analysis of the STI behaviour helps you to learn the principles.