Tuesday, October 30, 2012

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!

No comments:

Post a Comment