Uncertainty
The STI crashed drastically all through the week. It looks like the correction is not over. Nevertheless I have kept the optimistic wave count with Subwave i (brown) completed last week. This week’s downtrend could be Subwave ii (brown) forming. It has gone below the common retracement of 61.8% for a second wave and could get support at the 78.6% level. I have put in an alternative wave count with the STI forming a corrective wave abc (brown) to complete the Wave Z (red), thus extending the overall correction further. This could be the more probable outcome.