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Brazil's November PMI jumps to 48.7 from 46.5 previously. The country was among the first of the...

Brazil'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)
Comments (2)
  • Right.

     

    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.
    1 Dec 2011, 01:06 PM Reply Like
  • Interesting reverse H&S formed.
    1 Dec 2011, 03:45 PM Reply Like
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