Continued from STI Analysis -- the next peak and trough ? (111)
FTSE STI ended the year 2022 at 3,251.32 compared to 2021 closing of 3,123.68.  That was an increase of 127.64 points or 4.09%.  it was also among the selective few global indices to end the year in the positive.  Despite that, the Elliott Wave analysis didn't change much compared to a year ago.  Elliott Wave analysis on STI still pointing toward both the positive and negative scenarios remained valid.
Magenta -- STI Positive

Though the present wave count is slight different from couple of months ago, the possibility of this positive scenario still valid as there ain't any rules violation to invalidate it.  In this scenario, there could be either STI is in Primary wave 2 still doing the Intermediate wave ((b)) or Primary wave 1 doing Intermediate wave ((v)).  As stated in...