STI Analysis -- the next peak and trough ? (51)

Continued from STI Analysis -- the next peak and trough ? (50)

STI-2
STI hit an intra-day low of 3084.08 on 15th Aug 2019 before rebound to close at 3115.03 on 16th Aug 2019.  Is 3084.08 the bottom for I2 correction in the STI-2 scenario ?

The above was what being generated by the Correction Calculator previously to determine the possible ending point for I2.  In the previous analysis, 3075.50 was mentioned as one of the possible value and that is just 8.58 points away from the low on 15th Aug 2019.

The above described the wave count for this scenario.  Pattern wise, there isn't any violation and couple with what was generated by the Correction Calculator, it is highly possible that I2 correction has ended at 3084.08 on 15th Aug 2019.  However, don't get over the hype yet as it always needs that confirmation (both the upside and the downside) to affirm this wave count.  The upside confirmation is STI moves above 3386.65 and the downside confirmation is STI cannot break below 3054.  Why 3054 ?  That is the 78.6% Fibonacci retracement level and anything below that poses a high risk of invalidating this STI-2 wave count.

STI-N

While the correction and current events both global and locally biases towards the negative, nothing has invalidate the positive wave count (STI-2) and nothing much has affirm this STI-N scenario too.  Nevertheless, this still remain a very possible wave count.

Above is the wave count for this scenario.  STI is now in the Cycle degree wave C part with the current up and down being the Primary degree level wave count.  At this junction, it is very unwise to ignore this scenario and should firmly keep it in mind and derive a strategy to minimize loss should this scenario eventually enact.

US Market

Previously already mentioned US market is in the SuperCycle degree Cycle degree wave 5.  The correction just happened is the sub-level Primary degree plays out.  For those who know baseball will know the phase "3-strikes out".  This is what happening to US market now.  The ongoing correction is "strike 1".  Though after this correction it might see S&P 500 recording another all times high but that doesn't change the picture, no compromise at all, still "3-strikes out".  What's going to happen for US market is what US being asking for since 2017 when they get Trump to be the President.  Get into a trade war which shouldn't have despite knowing no one a winner eventually.  When things not going his way only know how to bark around like a mad dog.  Empty vessel always make the loudest noise.  This statement who has never been proven wrong and definitely strongly referring to him without any doubts.