Subwave iii?
It appears that the STI had support right at the 50% retracement level. It then rose strongly, closing today near the intraday high, indicating momentum continuing upwards next week. So it is likely that Subwave iii (red) is now forming. But with so much uncertainty in global markets, the STI could turn down again. We will have confirmation that it is indeed Subwave iii when the STI rises above the top of Subwave i (3307.29).