Continued from STI Analysis — the next peak and trough ? (X)

Not going to say about the present correction despite STI dropped to 3340 on 4th April 2018, a new low than the 3377 on 9th February 2018.  Whether there is still some downside (the lower trendline), the concern that STI has moved below the 200d MA or other technical indicators indicating more downside, the case is closed for current correction as far as it is concerned.  STI moving below 200d MA or any other technical indicators showing bearish last week can easily be reversed the next week.  However, for Elliott Wave due to its rigid rules, it is practically impossible to be reversible.  What Elliott Wave showing now is STI still yet to complete the cycle since 2009 and STI yet to break above 2007 peak.  That is true fact and a clearly defined …