Uncertainty
This week the STI failed to rise above the top of Subwave i (red) and its prognosis has become uncertain, with an optimistic outlook and a pessimistic outlook for next week. The optimistic outlook is shown in the chart. It shows Minor Subwaves i and ii (black) which would lead to a Minor Subwave iii (black) forming next week. Minor Subwave ii may drop some more before Minor Subwave iii starts. These Minor Subwaves will be components of Subwave iii (red).
The pessimistic outlook would be that Subwave ii (red) has not completed. It is forming a flat and likely to test the 61.8% retracement. However, on completion, Subwave iii (red) will rise up. But I hope I don’t have to show this pessimistic outlook next week.