Managed to get a STI chart that started from 1980 so the missing portion from 1980 to 1987 in my previous analysis (STI Analysis — the next peak and trough ?) can now fit in to make a better analysis.

Previously, with only chart started from 1987 and given that 1987 was the big market crash, the famous Black Monday, my assumption was that was the bottom of an Elliott Wave cycle.  Now with chart data started from 1980, it was observed that the 1986 low, the market low after the 1985 recession, was even lower than 1987 low.  Coupling with the fact that the 1982 low was higher than 1986 low, it pretty much look like the Elliott Wave cycle trough was 1986 instead of 1987.  Despite that, the Elliott Wave count still remain the same except wave 1 is 1987 instead of 1989 and …