However, with the Dow's crash on Friday, I believe that STI might retrace and/or consolidate further before advancing towards my eventual target of 2790.
Given the possible performance of STI, this is the best-fit elliott wave count I have at the moment. We will likely be beginning minute wave ii, which coincides with my expected retracement. The likely targets are 2710 (23.6%), 2703 (38.2%), 2698 (50%) and 2694 (61.8%). I expect the maximum pull back, if any, to be around psychological point 2700, so 2703 and 2698 will be possible targets.
In the very short term, no negative divergence was observed on the daily chart. 2790 target remains intact.
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