Correction Continues
As expected, the STI continued correcting this past week. It has formed three legs, Minor Waves a, b and c (red). This should be sufficient, but it is possible that Minor Wave c could continue further down. When completed, Subwave iii (blue) should form going upwards, to be followed by Subwaves iv and v to complete Wave 3 (blue). Then there are still Waves 4 and 5 that will take the STI sky high.
An alternate wave count, which would be more realistic, is that Subwaves i and ii (blue) should be counted as Waves 3 and 4 (blue). This means that the uptrend will be shorter but the STI could possibly still reach a staggering all-time high of about 4500. We shall see.