Continued from STI Analysis -- the next peak and trough ? (76)

STI-N
Primary Wave 5 Ongoing



STI definitely slowly trending down despite the recent upturn.  The recent upturn according to the wave count is the Intermediate wave ((iv)) of the Primary wave 5.  Intermediate wave ((i)), ((ii)) and ((iii)) all did a A-B-C zigzag pattern and so is the ongoing Intermediate wave ((iv)).  It does look like the Minor wave (b) of the Intermediate wave ((iv)) has completed on 22nd Oct 2020 at 2513.52 and if the next few days STI should continue to move higher and could also overlap Intermediate wave ((i)) to form a diagonal 5-wave.  This Intermediate wave ((iv)) should not exceed Intermediate wave ((ii)) peak of 2707.67 which occurred on 7th Jul 2020.  Thereafter STI would continue downward movement to complete the Intermediate wave ((v)) and hence...