Lengthy Correction
This week the STI dropped sharply and substantially. It appears that the STI is not content with the big flat correction from mid-February to mid-July. It formed a smaller flat, making the structure from mid-February a lengthy combination correction consisting of two flats linked by an X wave. Hopefully the second flat will dissolve remaining negative market sentiment. The STI may drop a bit further to clean things up before rising again. We have to wait till it rises above the top of the second flat (3307.29) before we can hope that the correction is over.