Minor Subwave iii
Finally the STI showed some life today. It gapped up strongly, which is a characteristic of a third wave. It is possible that Minor Subwave iii (black) will rise up to about 2850. This is based on the Fibonacci ratio of 1.618 between the lengths of Minor Subwave i (black) and Minor Subwave iii (black). This is not an Elliott Wave Principle rule, but it is frequently observed. Alternatively, the ratio could be 1.383 which means a target of about 2800.