Supplement: Alert!
This supplement is to give readers an early alert of the potential topping of the STI in the next few days, if my wave count is correct. You can see from the chart that Subwave iv (red) has completed and we are seeing Subwave v (red) starting today. As I have stated, the end of Subwave v is the end of Wave 5 (red). There will follow a significant correction after Wave 5 completes.
While the Elliott Wave Principle is based on proven rules and guidelines, it often happens that there are alternate wave counts. The probabilities of the alternate counts can change as the index develops. The wave count in the chart has the highest probability at this time. There is no need to panic. We should watch the market closely and prepare to take some profit to reduce the risk.