STI Analysis -- the next peak and trough ? (59)

Continued from STI Analysis -- the next peak and trough ? (58)

STI-2
Awaiting for rule violation to invalidate.

STI-N
The bigger picture has not changed for this scenario.  STI is now in the Cycle wave (Y) of the SuperCycle wave ((2)).  However, based on the past 2 weeks performance, the lower degree perhaps need some adjustment.

The above chart has a slight different from the previous analysis.  Previous analysis labeled the performance since after the CNY break as Minute wave count instead of Minor degree.  However, the wave c if it is a Minute wave count has not occurred and based on the time frame it is unlikely that is considered as Minute degree.  Thus, the chart has adjusted it to Minor degree.  STI is now doing the Minor wave (b) of the Intermediate wave ((c)) of the Primary wave C of Cycle wave (Y).

The above is the close up on the wave count that the wave (b) could be examined.  In Elliott wave, wave B can rebound from 38.2% to 138.2% with respect to wave A depending on the pattern structure of the corrective wave.  To be exact, even for a specific pattern, there isn't a fix Fibonacci ratio for it also.  The most common range as highlighted with the orange circle is between 50% to 123.6% Fibonacci ratio.  STI as of 14th Feb 2020 closing of 3220.03 is between the 61.8% to 78.6% meaning it has the possibility to continue moving up to 123.6%.  Then again it also has the same possibility that it has run its course at current ratio and start on the wave (c).  As Elliott wave B is also known as the "false rally", the higher wave B goes, the more damaging wave C that follows will be.  This could due to human behavior of FOMO (Fear Of Missing Out) in misleading the "false rally" to be the worst is over.  When they finally realize the fact, the panic selling will put more pressure to the stock prices and doing a sharp wave C.