STI Analysis -- the next peak and trough ? (75)

Continued from STI Analysis -- the next peak and trough ? (74)

STI-N
Nothing much has changed or has STI gone into a state in which we could conclusively put it which of the 2 possible scenarios (mentioned in previous analysis) is the correct Elliott Wave count.

Primary Wave 5 Ongoing

As shown in the above chart, STI is in Primary wave 5, Intermediate wave ((iii)), Minor wave (iii) with Minor wave (ii) completed on 13th Aug 2020 at 2602.33.  This means STI is very much more downside biased and way more to fall to complete Intermediate wave ((iii) (Minor wave (iii), (iv) and (v) to go).  However, this scenario should invalidate IF AND ONLY IF STI can break above 2602.33 in the next 2 weeks.

Primary Wave 4 Ongoing

For this scenario STI is in the Intermediate wave ((y)) of the double-three correction pattern of Primary wave 4.  The ideal case for Intermediate wave ((y)) is a zigzag pattern but so far STI has yet to display that.  Instead, the rebound to 2602.33 followed by the retreat appears to be the Minute degree of a Minor wave (a) -- hopefully the a-b-c zigzag pattern.  In this case, STI should rise further in the coming weeks to form the Minute wave c of the Minor (a).  Since STI has a double-three structure in Intermediate wave ((x)), another double-three pattern for Intermediate wave ((y)) is also possible.  This means, STI will have more whipsaw showing going forwards to complete the double-three pattern.  This scenario will be invalidated if STI breaks below 2478.39 which was achieved on 3rd Aug 2020 as Intermediate wave ((x)).  Should that happen, the Primary Wave 5 Ongoing case shall be valid.

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