Principles of the Stock Market » Brazil Leading

Brazil Leading   

Posted Feb 21 2008, 08:46 AM
by Richard Schwartz

I’d like to see a higher high occur in most/any EUROPEAN stock market indices during this two to three week rally.  Most European indices followed the US, that is stopped going down, bounced a touch, put in a higher low and were working on posting a higher high.  I thought Germany’s DAX might post a higher high yesterday, but prices faded and have continued down so far today.  In ASIA, it’s the same thing.  No higher highs during this rally either.  Even for just a counterswing rally upward a higher low and then a higher high is a confirmation of the uptrend.  Schwartz View:  Although I didn’t check all global stock markets, especially the smaller ones, I did find one higher high posted so far.  That’s in Brazil.  For those of you who want to play Brazil, I’d suggest checking into and using symbol EWZ.  It’s actively traded and tries to track Brazil’s stock exchange.  Disclaimer!  While I own none of EWZ starting off this morning, I’ve been trading it and may go back in and out at anytime. 

 



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