Continued from STI Analysis -- the next peak and trough ? (27)
The drop in HSI yesterday has invalidated the Elliott wave count that it has ended the correction since January 2018. Indicating HSI still in that correction wave. As such, perhaps it is time to re-look STI wave count. From past analysis it was concluded that the correction wave count ended last month at 3110.79. The current pull back is the post-correction Wave 2. However, this wave count can be invalidated if STI fall below 3110.79. As of now, STI hits an intra-day low at 3140.73, that is more than the 78.6% Fibonacci Retracement level already. From experience, most of the time when more than 78.6% will mean count invalid, it is like an early warning signal.
Should that wave count become invalid, the followings doubts shall become ......