Uptrend?
Today the STI achieved a large uptick, making a higher high than yesterday. This makes it look like the uptrend is continuing. The STI closed near the intraday high, which adds to the positive outlook. However the severe intraday low shows that there is high downward pressure. So the outlook is rather indefinite. Given the situation, it is best to wait for the STI to rise above the top of Wave 1 (red) before entering the market again.