Supplement: Correction Continuing
This is a quick supplement to warn that although the STI went above the top of Subwave i (red) on an intraday basis today, it does not look like Subwave iii is forming. The STI closed at its intraday low which is much lower than yesterday’s low. This means the momentum is still down. It is better to wait till there is a clearer signal of an uptrend such as another day when the STI goes above the top of Subwave i, and better still if there is a gap up. I’ll issue another supplement if and when this happens.