Continued from STI Analysis -- the next peak and trough ? (59)
STI-2
Awaiting for Elliott wave rule violation to invalidate
STI-N
Above is the update of STI Elliott wave count after market closed on 28th Feb 2020. Adjustment to the previous wave count that STI is in Intermediate wave ((c)) of Primary wave C of Cycle wave (Y) of SuperCycle wave ((2)). This is because with reference to the present situation due to Covid-19. Global spreading has started, the economy damage due to this Coronavirus has yet to factor in recession case. Singapore with no exception could not be ending the wave count soon meaning the downside to STI at the moment is not limited.
The new adjustment presents 2 possible wave count going forward.
Red Wave Count
This is similar to previous analysis just that STI is now doing the Minor wave (a) of Intermediate wave ((c)) of Primary wave C of Cycle wave (Y). ...