Blog

11 October 2019 – Wave 3 Rising

Wave 2 has bottomed without undercutting the start of Wave 1. The current wave count therefore remains valid. Today the STI rose up with a tiny gap, which would be called a Breakaway Gap. We now have 

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4 October 2019 – Wave 2 Extended

Wave 2 (brown) has extended further, retracing down to 78.6% of Wave 1. 0.786 is also a Fibonacci ratio, but such a retracement is less common than 0.618. Obviously the downward pressure is very

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27 September 2019 – Wave 2 Ended?

Wave 2 (brown) has retraced by nearly 61.8% of Wave 1. This is the common Fibonacci retracement for Wave 2. So I would expect that the STI will recover and have a strong uptrending Wave 3 next week. It is 

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20 September 2019 – Wave 2

The STI has formed Wave 2 (brown), although it is uncertain that it is completed. It is typical that Wave 2 will retrace 61.8% of the length of Wave 1. Sometimes it is 50% or another Fibonacci ratio 

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