Continued from STI Analysis — the next peak and trough ? (81)
FTSE STI closed at 2,843.81 for 2020 vs 3,222.83 on 31st Dec 2019, a drop of 379.02 points or -11.76% for the year 2020 which Covid-19 was the main cause.
STI pretty much still stagnant at the Primary wave 4 of Cycle wave (C) phase. To be exact, it is at the Intermediate wave ((c)), Minor wave (b). STI could be completing the Minor wave (b) in the coming 1 or 2 week before staging the final rebound Minor wave (c) for the Intermediate wave ((c)). The timelines for Intermediate wave ((c)) as shown above is pretty much consistent with Intermediate wave ((a)) — [18 days – 27 days – 8 days]. For the case of Intermediate wave ((c)), it is now at [18 days – 25 days]. Even at Intermediate degree, the same trend could be observed — [53 days — 100 days — ongoing 43 days].