Supplement: Wave iii !
I must confess that I was too hasty in taking on a pessimistic outlook last Friday. The STI proved me wrong today by making a massive jump up. This is characteristic of Wave iii action. As confirmation, the STI has jumped out of the correction channel shown as blue parallel lines. The wave count has been adjusted accordingly, although Wave iii is not labelled as it has not ended yet. We should expect that this Wave iii, while consisting of up and down subdivisions, will in total be longer than the preceding Wave i (brown).