Thursday, June 13, 2013

STI Elliot Wave Analysis June 2013

Was free and took a quick look at STI.

I realised the waves are so crystal clear... Well, I may be reading it wrongly.

What this count means:
This is a correction, and STI will still go further up. (1) is 384 points long. If I expect (4) to end at around 3200 or below, and (5) to be almost as big as (1), then 3800 plus is achievable!

Discount that maths, my guess is that the end of the more major 3rd wave will end at the 2007 peak, which is around 3800.

The crystal ball would probably go on to tell me that a correction is then around the corner, and for a 4, it probably would be quite draggy :(

Further that, the 5. This wave 5 would be tricky, and how far it would goes really depends, since wave 1 is so short. The cardinal rule of EW theory is that wave 3 cannot be the shortest wave, and it is already satisfied in this count. But STI 4000 should be a good guess?

Of course, all these will be wrong if the current STI breaks below 3036, where wave 4 crosses 1, another cardinal rule of EW theory that cannot be broken.