Brazil; Waterfall in prices starting? Impact U.S.?

kimblecharting's picture

Brazil; Waterfall in prices starting? Impact U.S.?

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

EWZ weekly kimble charting solutions

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EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ breaks support at (1), it should attract selling pressure. If it falls hard, the decline could well put the hurts to Emerging markets (EEM) and potentially ripple into the stock market in the states!!!

 

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Kefeer's picture

Might or might not; the article/writer covers all the bases....good report. (sarc)

whatamaroon's picture

FBN just said the President has resigned.

Conax's picture

When it's cheap enough they'll buy Brazil. It will look really great over the mantle piece.

 

aliens is here's picture

The women there are hot though. I wish I was filthy rich like the Clintons where I can buy a few like Billy boy.

DaNuts's picture

I thought that he raped women, not bought them.

assistedliving's picture

new rule :  any chart of Brazil has to have a Brazilian beach background

then move on

Stormtrooper's picture

Fugetaboutit!  The stock market in the states is bulletproof and will not be bullied by charts and facts.

Hugh_Jass's picture

I'm sure that Moar Woar is the answer...isn't it?

DownWithYogaPants's picture

and it will be until it isn't!   Will you please let me know when the last up wave has finished so I can get out?

I didn't think so >80(

zagzigga's picture

Agreed. Now all these emerging and emerged market central banker douchebags will flee to the "safety" of the US market. SPY to the moon! Buy EVERY fucking dip!