Week 51

Hello there!

We see market kinda resting on 59,450 points. Next point looks like to be 62,120 with a possible retest on 57,900.

This is how I see Ibovespa:

Last week I've posted two charts from financial stocks but they didn't developed well.

One stock that is really strong in a bull trend is VALE5 ($VALE). Wouldn't be surprised if this stock hits 41,57 before a pullback. Worth watching.

As next Monday will be December 24th I won't be posting. Expect a post on Wednesday or Thursday.

Good trades for everybody!

Week 50

Hello there!

After two weeks without a post I'm back. I really was unable to keep things up to date during the trip.

Just recapitulating last post, we reached the 55,400 points on Ibovespa and things wasn't so clear to decide wich direction market would take.

As we can see now market is trying to form an uptrend with higher highs and higher lows on the daily candles.

Also, what I like to see when market is recovering is the financial sector. Our biggest banks are showing relative strenght.

ITAU UNIBANCO - ITUB4 - ITUB

MACD Line is higher than the last point

BRADESCO - BBDC4 - $BBD

Trying to make new highs

Bulls on charge.

Have a nice trade!

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!

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!