Bovespa Index (Brazil) just hit an important level and minimum target of ours, and is now up against potential resistance. This is a very interesting situation, because the recent developments to a large degree, solidify larger wave patterns in play.

When using Elliott Wave Theory properly (which most practitioners tend to not do), one must be aware of the need to allow ones certainty about the market to vary over time and over the pattern developments – right now however, things are significantly clearer in the Bovespa Index than they’ve been in quite some time.

Continue reading Bovespa Index (Brazil) and Silver/USD. →