Week 44

Hello there!

Last week I posted the IBOVESPA chart projecting a movement that could reach around 55,400.00 points.

Like everyone knows the NYSE didn't opened Monday and Tuesday because of this terrible storm called Sandy. Without foreign traders we had a low trading volume wich barely changed our market level, either up or down, remaining between the 57,000 and 58,000 area.

Even expecting a leg toward the D point marked in the chart I believe that IBOVESPA can test the 61.8% retracement point before continue going down.

Although my bearish short term view I'm looking for a few stocks setting up well for long positions. I can post them next time.

Have a nice trade!

Week 43

Hello there!

Today was the first trading day of the USD-Denominated Ibovespa Futures $IBV_F on GLOBEX. Really usefull if you want to track brazilian markets!

Last week I posted a break out of a 7 days range wich made me think that our market was going up. It actually did that move up but in the end of the week it started reverting.

What I'm seeing today?

As the chart is showing, market is forming an ABCD movement and Fibonacci is targeting the 55,400 as the D point.

If you take a look to the MACD indicator you'll see that it's also doing lower highs and probably lower lows.

Enough said. We are going lower in my opinion.

And you? Are you bullish or bearish this week?

Have a nice trade!

Week 42

After trading sideways last week we broke out a tiny consolidation today wich could probably lead us higher this week.

With higher highs, higher lows, MACD Histogram going to the positive side I'm looking bullish this week.

Remembering that next Monday (October 22) IBOVESPA future contract will be available for trading, thanks to CME Group. Ticker symbol gonna be $IBV.

Here is more about it: http://www.cmegroup.com/trading/equity-index/ibovespa.html

Guess my posts will become more useful!

Have a nice trade!

Week 41

Hello there,

Before starting I wanna apologize for the time without posts. I'll try to keep things up to date.

So, despite Columbus Day in USA, wich could reduce our trading volume here in Brazil, todays move was pretty nice with a normal volume.

BOVESPA closed positive with a 1.27% change after testing the lower band of the trading range.

In my opinion we can go higher from here but stronger volume is needed as the same as the last up leg in beginning September. If we keep the uptrend 64,000 points will be reached again wich means that is time to go long.

The most related stocks with our index are $VALE $PBR $ITUB $GGB

Hope you like it!