After sliding from the peak of 3,550 in April
for almost 6 months, the STI
has been rallying for the past 3 weeks to 3,068. Based on my analysis, the 6 months bear was a 3-wave
correction, with the existing rally acting as the 2nd wave of the bigger trend.
With that in mind, the STI
may continue its decline at the 0.618 level at 3,237.