Primary Wave 5 Ongoing
The sharp drop for the week negated the view in previous analysis that there will be some more upside for Intermediate wave ((iv)). So the sharp decline for this week indicate the start of Intermediate wave ((v)) ? Well it looks like but at the same time it also offers another perspective. From the chart above, the blue label indicates the previous analysis and STI is now in Intermediate wave ((v)) of Primary wave 5, the last of the SuperCycle correction started in 2015.
However, there is also another possibility which is being labeled in red. In this possibility STI is now in Intermediate wave ((iii)) instead. There is valid reason for this as in the blue possibility, Intermediate wave ((iii)) is too short, less than the length of Intermediate wave ((i)), something is rarely seen but not impossible.