Uncertainty
From the chart it looks like the STI has started an impulse wave, with the large uptick today. However, it is more probable that Subwave 4 (black) is still forming. A typical fourth wave retraces by 36.2% of the third wave. The chart shows that this retracement level has not been reached yet, although the STI is quite close. I would expect that Subwave 4 will complete next week and Subwave 5 (black) will then form, going down below the bottom of Wave A (red) to complete the flat correction formed by Waves A, B and C. We shall see.