Continued from STI Analysis -- the next peak and trough ? (VII) In the previous analysis I pointed out STI could still be in the Intermediate degree Wave 1 of Primary degree Wave 3 coupled with other possible scenarios.  Though the case of still in Intermediate Wave 1 still valid and no evidences to invalidate, one of the other possible scenarios seems to be more fitting from the way STI progresses as of now. The following chart shows this possible scenario. From the chart, the blue channel (temporary) is the Primary degree Wave 3 and that cannot be wrong as STI has yet to break the 2007 peak.  The Intermediate degree Wave 1 and Wave 2 have completed as indicated.  STI is in Intermediate degree Wave 3 now.  This Wave 3 bounded by the green-colored channel is playing out an extension, the 3rd Wave extension of ......