Big Correction
The STI topped out on Monday and fell substantially through the rest of the week. I have labelled the correction as Minor Subwave iv (black). This wave count will be invalidated if Minor Subwave iv continues downward and crosses over the red dotted line which marks the top of Minor Subwave i (black). It is an Elliott Wave Principle rule that a fourth wave cannot enter into the territory of its preceding first wave. If it happens, the wave count since early July would have to be revised.