Continued from STI Analysis — the next peak and trough (VIII) ?
A very eventful week for the global markets and based on STI reaction it seemed to be go back to square one. As such this has reopened up all the possible scenarios going forward. Before listing those highly possible scenarios based on how STI has progressed since the bottom in 2016, one thing to be confirmed is STI is in Primary degree Wave 3.
1. Intermediate Wave 3 Ongoing
This is the scenario mentioned in STI Analysis — the next peak and trough ? (VIII), STI is doing a 3rd wave extension of 3rd wave in the Intermediate Wave 3 as shown in the chart below.
Despite the fall below the green-colored trendline, there is still not enough conclusion to state that the this scenario is invalid. The only way to invalidate is when STI falls …