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Brazil's November PMI jumps to 48.7 from 46.5 previously. The country was among the first of the...
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Thursday, December 1, 2011, 8:31 AM ETBrazil's November PMI jumps to 48.7 from 46.5 previously. The country was among the first of the emerging markets to initiate a monetary easing cycle, and cut rates for the 3rd time in 3 months yesterday. Markit provides a longer term chart of BRIC PMIs, all near flatline territory at the moment. (PR)
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This news story has 2 comments:
EWZ suffered a Double Top Flat Pattern of Intermediate Correction that started in Dec 2009 top and presumably has bottomed in October 2011:
- http://bit.ly/rupQCu
Brazil was one I had been monitoring this year for a buy the red C-wave down after double topping in May.
Unfortunately, I was already leveraged with SSO when it bottomed in Oct 4th.
Many Emerging Markets started going into Intermediate Flat Corrections starting August 2009.