STI 08/02/2012 - EW update

STI 08/02/2012  -  Elliott wave update on STI.

Previous update for STI is here.

STI has been running not stop since we posted the breakout levels in early January.  Where does it go from here?  

Elliott wave count possibilities is in the chart below.  STI might be trading in wave 5 of major wave 3.  If wave 5 = wave 1*1.23% then I am looking at the end of minor wave 5 around 2985 level.  Major wave 4 down should begin then followed by wave 5 up.

Please feel free to post your comments.

Bullseye.