After rebound from 3040.16 on 29th Aug 2019, STI rose to an intra-day high of 3166.95 on 6th Sep 2019 before closing at 3144.48 for the week. The rebound probably has shifted some analysts and chartists view that the bull run would resume. However, don't get the optimism yet as everything still a remain unchanged from the perspective of Elliott wave analysis as neither of the positive and negative scenarios has been mathematically ruled out as impossible.
STI-2
Above is the STI2 wave count indicating 3040.16 is the SuperCycle wave 3, Cycle wave 3, Primary wave 1, Intermediate wave 2 (S3C3P1I2). Thereafter, the ongoing rebound shall be the Intermediate wave 3. Above is what generated from the Degree Calculator of how STI shall be going forward if STI2 wave count is the correct one. The calculated Intermediate wave...