Hope
The STI is showing a little hope. There is a low probability that it could be forming an impulse wave. The chart shows that Subwaves i and ii (red) have been formed. Subwave iii (red) is now being formed, starting with its components Minor Subwaves i and ii (black). To reiterate, this is a low probability and I have put in the wave labels only to facilitate explanation. The higher probability is that the STI is still moving along sideways. However, let us hold on to the hope.