Looks like there's some further upside after lunch, before we see a A-B-C down and breaking the rising wedge being formed on the hourly.
Basic Elliott Wave Structure:
It does look like STI will go to around 2665, then move down to 2630 to form the A wave by Monday. If true, we will see STI peak later, then close lower by 5pm, forming a inverted V-shape today. Monday will see 2630 before a rebound to 2655 region, then another down, completing a head and shoulders.
Caveat emptor, this is just an experiment to test out Elliott Wave Fractal Theory. Of course, my counts might be wrong too.