Updated July 22, 2019
BVSP: What a beauty. Now this is how elliott wave is supposed to work with perfect subdividing non-overlapping waves. Contrast that to the SPX and ES_F, DAX, NIKK or FTSE… Yuck! In the July 8 update I write “nice subdividing third of a third of a third wave going on. Once complete, (grey) minute-iv and v will follow to complete all of intermediate-v of Major-5 of Primary-III.” Well, wave-iii completed and minute wave-iv is now underway. Should ideally bottom around 102555, but it could be done here already,
The whole rally now fits well with the big picture Elliott wave count for this index where price appears to be gunning for the 1.618x Fib-extension of (BLUE) Primary-I, measured from Primary-II to complete Primary III (of -purple- cycle-3). Once III is complete, wave-IV should find ideally support at around the 100% Fib-extension (80000-85000) before wave-V then ideally targets the 200% Fib-extension at around 124650 to complete C3.