Quick Correction?
As can be seen from the chart, it appears that the STI is making a V-shaped correction. However this could be a bear market correction, with the STI dropping again next week. The STI has been very volatile since August, zig-zagging up and down. Optimistically, the STI could be forming a new motive wave if it crosses the recent high of 4474.12 on 7 October. But today it closed at the intraday low, so hopes are not high.