BVSP update 11/19

It has been a while since I last update the Brazilian Bovespa, but now is the time as it’s IMHO getting close to as significant market top: Primary III. Counts very well and clean with consistently 5 waves up, but still needs to wrap up intermediate-iv and v of major-5 of Primary III; so there’s still some gas left in the tank, but not much. Note how the negative divergences are starting to build (red arrows). Primary IV cannot overlap with Primary I at $70,000 so it may be a more shallow drawn out correction, although -assuming III reaches ~$90,000 a ~$19K drop still fits with a ~38.2% retrace of III, which is very typical for a 4th wave, and moves price to ~$72500 which is clearly strong support.

BVSP