Pessimism
The STI continued to stagger sideways, with no sign of a Wave iii forming. This has caused me to turn pessimistic. While last week’s wave count has not been invalidated, it is now more probable that Wave z (red) is stretching out. The STI hit resistance at the top of the correction channel shown in blue parallel lines. It is likely to drop back to the bottom of the channel to finish the correction … hopefully.