Supplement: Happy New Year
It is a happy new year indeed! The STI jumped up substantially today with a large gap up. It closed near the intraday high. These indicate a strong momentum that should push the STI higher tomorrow. Minor Subwave v (black) has risen well above the top of Subwave i (red). I hope that you have taken heed of my advice in my blog on 31 Dec where I stated that this should give us confidence to get back into the market.
Once Subwave iii ends, the corrective Subwave iv (red) will follow, which will give you a chance to pause, review and identify more opportunities to ride up Subwave v (red).