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

Like mentioned in the last 2 analysis considered correction case closed and today STI breakout of the downtrend channel more or less confirm that.  Another interesting fact is since hitting 3,340 on 4th April 2018 till now, there are 10 trading days and of the 10 trading days, 7 days STI closed positive while the other 3 were in the red.  This exactly fits what I have mentioned in the previous analysis about the 3-2 method, in the period of 5 trading days 3 days up and 2 days down, was the minimum requirement to break the downtrend channel within 1 to 2 week times.

I have adjusted the wave labeling of the correction.  The adjustment was made in the linking wave ((X)), instead of just a pure zigzag in the previous case, it is …