
Wave 3 Rising
Wave 2 has bottomed without undercutting the start of Wave 1. The current wave count therefore remains valid. Today the STI rose up with a tiny gap, which would be called a Breakaway Gap. We now have Wave 3 forming and the expectation is that this will will rise up strongly and sharply. Markets are expecting that there will be some initial results from the US-China trade negotiation which is underway. Wave 3 is expected to rise well above the top of Wave 1. It is typically at least 1.618 times the length of Wave 1.