26 July 2021

Supplement: Wishing

This supplement is for me to indulge in wishful thinking, perhaps. Subwave ii (red) seems to be revealing its structure. It appears to be a combination correction, consisting of a flat (Minor Subwave W) followed by a triangle (Minor Subwave Y), linked by Minor Subwave X. Students of the Elliott Wave Principle may refer to Figure 1-47 on page 53 of Elliott Wave Principle by A J Frost and Robert Prechter.

The little wave e at the end of the triangle may continue a little downwards to touch the bottom line of the triangle, or may end above or below it. We will have confirmation of this wave count if after the triangle completes, the STI rises well above the top of Subwave i (red) at 3194.19.

Wishful thinking? Let us see.

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