Subwave v Rising Now?
My optimism was misplaced. Subwave v (brown) has not formed yet and instead the STI went further sideways. Looking at the wave structure of Subwave iv (brown), a triangle is now unlikely. It would just have three minor subwaves, as shown by a, b and c in red in the chart. It is not clear that Minor Subwave c (red) has completed. If it has, then the uptrend over the last two days would be the beginning of Subwave v (brown). If not, then it could take another dip before completing, as shown in the chart. In any case we look forward to Subwave v rising up, possibly to 3360 by late May.