A continuous from STI Analysis -- the next peak and trough ? (III).
Global markets were on a sharp fall since the start of this month with US markets having probably the worst wild ride on an intra-day basis since the 2008 GFC. FTSE STI was not spared either with the selling and the drop. With the close of 3,377.24 on 9th Feb 2018, STI practically gave back all the gain its has since the start of the year and ended into the red YTD. Alarming ? Shocking ? Fearing ? Panicking ? Unfortunately, the answer is NO, as this is all according to Elliott Wave analysis as STI just completed the Intermediate degree wave (1) from last month peak of around 3,610. What we are seeing now is the Intermediate degree wave (2), the corrective wave. Zoom in to a lower degree, the Minor degree level, STI ......
