Continued from STI Analysis — the next peak and trough ? (24)
At this stage STI correction since end January 2018 has became very clear, in particular, should the Elliott Wave count to be correct, the correction should be coming to an end.
Looking at the Primary degree of the Elliott Wave cycle, STI is displaying 2 possible scenarios
The above chart is for the scenario whereby STI in undergoing an Intermediate degree Wave 4 (P3I4) correction where the Intermediate degree Wave 3 (P3I3) was completed in end of January 2018 at STI 3162. In fact this is the scenario for most of past analysis was focusing on. Though by Elliott Wave rule, it is not invalidated due to Wave 4 overlapping of Wave 1 (STI 2963 level), the depth of the correction so far (more than 50% Fibonacci Retracement) raises question as by Wave 4 standard, that is …