Supplement: Subwave iii Forming
It was just yesterday when I stated the conditions that the STI could affirm that it is forming Subwave iii (brown). Indeed the STI rose strongly today, in fact with a gap up. It also rose above the top of Subwave i (brown) which was at 2561.37, although by just about 10 points. Also, the STI closed today at its intraday high which signifies that there is still upward momentum. We can look forward to the STI continuing upward over the next few days, but of course there is no guarantee.