Correction
The STI topped yesterday, completing Subwave i (red). It is now forming the corrective Subwave ii and will continue downwards next week. It is interesting to see that Minor Subwave 5 (black) is close to the exact same length as Minor Subwave 1, as shown in the chart. It is a guideline (not a rule) in the Elliott Wave Principle that a fifth wave is a Fibonacci ratio of the first wave, with 1 as the ratio that occurs frequently.