As a follow up to the previous post, How Low Can STI Go ? and with FTSE STI closed at 2,837 on 4th Mar 2016, some interesting event has triggered. Recap of the previous projection based on Elliott Wave, STI was in wave C sub-wave 3 with sub-wave 4 and 5 to go before eventually hitting the bottom.  However, referring to the chart below, there is a violation in the Elliott Wave count. As FTSE STI rose to 2,837 in presuming wave C sub-wave 4, it has overlapped wave C sub-wave 1 (shown in the yellow region).  This has violated one of the rule of Elliott Wave, thereby invalidate the previous wave count.  That could mean STI 2,530 occurred in January and February 2016 was the bottom of the down wave ABC.  Though the length of wave C seemed rather short in both magnitude and time frame ......