Supplement: Alert!
The STI dropped below the bottom line of the diagonal today. This implies that Subwave 5 (brown) has completed and Wave 1 (red) has topped. If this wave count is correct, then Wave 2 (red) has started and will likely drop to around 3160 as stated last Friday. There is a small probability that the STI will climb back up above the bottom line and form a new top for Subwave 5 (brown). This is rare. But let us see what happens next. My usual blog will resume tomorrow.