STI - Bullish Harami observed

The following is taken from http://www.candlesticker.com/Cs29.asp

Recognition Criteria:

1. The market is in a bearish mood characterized by downtrend.
2. Then we see a long black candlestick.
3. We see a white candlestick on the following day where the small white real body is completely engulfed by the real body of the first day. The shadows (high/low) of the second candlestick are not necessarily contained within the first body, however it's preferable if they are.

Explanation:

The Bullish Harami Pattern is a sign of disparity about the market’s health. While the market is characterized by downtrend and bearish mood; there is heavy selling reflected by a long, black real body however it is followed by a small white body in the next day. This may signal a trend reversal since the second day’s small real body shows that the bearish power is diminishing.

----------------------------------------------------------------------------------------------

This candlestick formation, coupled with the calculations yesterday that 2522 might be the lowest point in my wave count, and together with STI approaching the support line that starts from Mar 09, leads me to really believe that i of 3 of C has begun yesterday. To me, my preferred wave count is still valid until it breaks.

An important thing to note is that such a formation does not guarantee a bullish reversal. A confirmation white candle is still needed tomorrow. However, I expect gap resistance between 2591 and 2610.

STI daily Pivot point for tomorrow:

Pivot	2551.93
R1	2573.87		S1	2538.03
R2	2587.77		S2	2516.09
R3	2609.71		S3	2502.19

R2 and R3 comes close to 2591 and 2610 as well.
Furthermore, there's also resistance at 2614 and 2622 by trendline analysis, as you can see from the charts 2 days ago.

STI will really need lots of strength to break this region (2590 ~ 2620, which is +30 to +60) tomorrow. However, the sentiments doesn't seem to be able to supply that required amount of strength.

STI might attempt to hit the region tomorrow before coming down again. Shall see how it goes :)