Continued from STI Analysis -- the next peak and trough ? (114)
FTSE STI closed at 3,212.64 for the week ended 24th Mar 2023.
Magenta -- STI Positive
After hitting an intra-day low of 3,094.28, STI rebounded for the week. The rebound looks strongly like the B wave of the zigzag for either Intermediate wave ((a)) or Intermediate wave ((c)) of Primary wave 2 for the positive scenario. As such, obviously the rebound shall be capped and upside limited going forward. With next week being the last week for 1Q 2023, quarterly window dressing from funds should have no problem pushing the index up. Thereafter, the trajectory should continue on the downside for this scenario.
Green -- STI Negative
As usual, the negative scenario still largely intact and yet to be invalidated in which STI is in Primary wave A of Cycle wave (C) of SuperCycle wave ((C))....