Week 47

Hello there!

Tuesday is holiday in some states here in Brazil. One of them is Sao Paulo wich is located our stock exchange so there will be no trading session tomorrow.

As I've been watching on previous posts, since Week 43, market reached the 55,400 area respecting drawn fibonacci.

If I was obligate to make a call today it would be bullish, but from now on I prefer to wait for a clear signal from market to take positions.

I'll be travelling next week so I don't think I could keep posts up to date. But I'll try.

Have a nice trade!

Week 46

Hello there!

The day after my last post was Election Day in USA. On the Election Day we had a strong move up with some kind of expectation in Romney (somehow people thought that he could change something). Well that wasn't the case. Obama won the presidential run and on Wednesday we had a sell off.

All of this is very interesting, even more if you take a look at the 50% retracement that was drawn on the fibo that I've plotted on the IBOVESPA chart.

Actually these tests on retracement lines kind of make me more confident about this fibo. Each day I believe more that this is the target before a long bull trend, in my opinion.

If market breaks down through 56,900 tomorrow it will be even easier.

Have a nice trade!

Week 45

Hello there!

Nothing special on todays post. Market really tested the 61.8% retracement (as I posted) in a strong move but I still keep my view to the downside on the next few days before an uptrend.

Just for a note: here in Brazil we are 3 hours earlier because of summer time. Our future starts trading at 09AM and stops at 17:55 local time.

Short post but I think you got the message.

Have a nice trade!