Continued from STI Analysis — the next peak and trough ? (75)
STI broke below 3rd Aug low of 2478.39 and this has practically invalidated one of the case previously analyzed.
Primary Wave 4 Ongoing
As shown above, STI fell below Intermediate wave ((x)) thereby making Intermediate wave ((y)) and the case that STI is in Primary Wave 4 invalid. However, there is a remote possibility the ongoing still a Primary Wave 4 doing a big triangle formation and STI still in wave ((b)) of the big triangle. This is not something to bet on nevertheless.
Primary Wave 5 Ongoing
With STI slowing trending down and even breaking below Minor wave (i) (2478.39), this further reinforces the case that STI is in Primary Wave 5. To be exact, it is in Minor (iii) of Intermediate wave ((iii)). As in general, wave 3 is the longest and sharpest among the wave so STI could be