Monday, July 18, 2016

Commodity Country Equity Markets Recover:

From ChartWatchers:

Commodity Countries Reach For 52 Week Highs 
With the big push in the markets recently, global markets continue to break out to 52-week highs. Brazil hosts the world in three weeks with the Olympics. I don't think the recent Brazilian stock market ($BVSP) performance is Olympics-related, but Brazil is pushing to new 52-week highs for the first time since September 2014.
The next commodity-based market to highlight is Russia ($RTSI). This is the first 52-week high since April 2011. Yes, the first 52-week high in 5 years. The 200 DMA has turned up and the Russian market is outperforming the $SPX slightly as shown on the purple area chart....