Rebound?
Subwave ii (red) stopped at 3155.52, just 10 points short of the 78.6% retracement level. The STI now appears to be forming Subwave iii (red), starting with the Minor Subwaves i and ii (black). This is an optimistic wave count, as it is possible that the STI will fall down again, pulled by the 78.6% retracement level. We shall see next week.