Continued from STI Analysis -- the next peak and trough ? (22)
Not a good sign, that the comment on STI at the moment. The continued selling and weakness has raised the possibility of invalidating the wave count that STI is in Minute wave 2 (P3I5M1M2). In previous analysis mentioned that should STI fall below the 6th Jul 2018 low of 3176.26, it will invalidate the Scenario 1 and 2.1. Have to retract that statement as it will not invalidate Scenario 1 and 2.1, it will just invalidate the wave count that STI is in P3I5M1M2 and back track to STI is still in Intermediate wave 4 correction which started since end January 2018. The Scenario 1 and 2.1 still valid and can only be invalidated by EW rule that Intermediate wave 4 overlap Intermediate wave 1. There is another Scenario ......
