Wave 5
The STI did not go further sideways this week. It was in a hurry to go up, forming Subwave v (red) to possibly complete Wave 5 (red). There is a high probability that Wave 5 ended today, but it is not certain. The upward momentum still looks strong.
The correction after the end of Wave 5 will be rather severe. One possibility is that the STI will drop to the end of Wave 4 (red), at around 3037. This is not an Elliott Wave Principle rule or guideline. It is a common observation. Be prepared to rebalance your portfolio.