Stuck
The STI did decline further, but has gone back up somewhat. As can be seen from the chart, it is stuck in mid-air with no sign of whether it will go up or down next week. Furthermore, it is still stuck within the corrective channel shown by the blue parallel lines. We need to see the STI break out well above the top line of the channel to be convinced that it is recovering.
It looks like it will be quite some time before the STI breaks out. Nevertheless, best wishes for a Happy and Prosperous New Year!