Uptrend
I am calling the latest wave count an uptrend. Unlike the prior call of an uptrend which turned out to be Subwave b (black), this time the rise in the STI is steep and there is a gap up. The difference is clear between Subwave b and the current uptrend which I have labelled Subwave i (brown). Although I have labelled it as such, Subwave i may not have ended as today’s top is higher than yesterday’s top. The market looks hopeful now, as the result of the US election becomes clear, removing uncertainties which markets dislike.