Continued from STI Analysis -- the next peak and trough ? (100)
STI Overall
STI has been biasing toward the upside since the turn of the year and even displayed resilience despite US markets corrected with Nasdaq already into correction territory. This of course prompted analysts all moving toward the optimistic with even claim of possible STI at 4,000, a level finally broke the high in 2007 prior to the 2008 GFC. However, looking at the overall picture in particular the higher degrees (SuperCycle and Cycle degrees) of Elliott Wave analysis, nothing has changed, nothing has confirmed of the bullishness and the most important, the 3 negative scenarios still very much valid.
Magenta -- STI Positive
In this scenario, it was previously stated a possible "leading diagonal" in the Primary wave 1. As of now, STI is in the Minor wave (iii) of the Intermediate wave...