Still At Crossroads
The STI shot up in the last three days. However, as you can see in the chart, the uptrend consists of three subwaves and so it could be a counter-correction wave. Therefore I am keeping the pessimistic wave count for now. The STI is still at the crossroads. If it turns down next week, the wave count will be as shown, with the STI forming Subwave c (brown) which is the last part of Wave y (brown) to end Major Wave C (brown). Wave y (brown) will be a zigzag.
If the STI continues upwards next week with five minor subwaves to form Subwave iii, then the Alternative wave count will apply as shown by the ALT line.