$Straits Times Index(STI.SI)$ closed at 3,111.65 for the week ended 24th Jun 2022 after hitting a peak of 3,466.23 on 17th Feb 2022.
In previous analysis was said STI in this positive wave count in undergoing Primary wave 2, a deep correction typically. From the above chart and looking at the index movement since the top at 3,456.09 on 29th Mar 2022 (end of Primary wave 1), it appears a little 5 wave in the Minor degree could be completed and that shall become the Intermediate ((a)) of the Primary wave 2. A rebound in the coming weeks should confirm that. Should a rebound occur, don't be happy, worst is not over as the last wave down Intermediate wave ((c)) still need to be completed for Primary wave 2 to end. The possible destination for Primary wave 2 as mentioned in previous analysis is between 2,475 to 2,832.
STI Negative -- Green/STI Negative -- Orange
STI Negative -- Green / STI Negative -- Orange
The Negative wave count is a silent killer and believe majority of the people will think the correct wave count is the Positive scenario in which STI is in Primary wave 2 and the downside won't get worse than March 2020 low of 2,208.42. The above illustrate a trajectory for this Negative scenario (STI Negative -- Green). The appear Minor degree 5 wave down at the moment shall be the Intermediate wave ((a)) of Primary wave A of Cycle wave (C) of the SuperCycle ((C)). It will have more downside to come before hitting the bottom. This also where majority of the investors will be trapped firstly in Intermediate wave ((b)) (coming weeks) and then next Primary wave B
Above is the overall picture of the wave count for both the Positive and Negative scenario.
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