Brazil's BOVESPA @ a 'low'?

BOVESPA Weekly Chart @ Close 05/25/2012

Brazil's BOVESPA has borne the brunt of the 'risk-off' in the EM/ Commodity 'space, so perhaps its 'long indecisive' candle pattern for last week suggests at the very least some attempt for a counter-rally in risk-assets?

That said, S&P futures action Monday and the poor close post- European trading suggests that US markets will open Tuesday 'on the back foot'.

Brazil did rally nicely Monday; scoring a 1.38% gain, Resistance now @ the 56,700/750 level to suggest a 'meaningful' low has been witnessed.

More indecision spells 'caution'......

S&P500 Daily Close @ 05/23/2012

Balance of risks has turned back to the upside after another 'indecisive' day; even though the intra-day price action was quite negative (yet holding above the lows from last week).
That said; the wise man's approach may simply to be to establish a long position @ the 200day SMA, should the opportunity arise. (tight stops as per usual).

Oversold 'bounce' & nothing more?

S&P500 Daily Chart @ close 05/22/2012

The 'indecisive' daily candle suggests that the recent low @ 1291.98 remains @ risk.
The 200day SMA @ 1279.38 likely to stem the 'bleeding' should the 1291 low be breached.
Coincident indicators (CRB Index/ Copper/ Industrial Metals) all lend themselves to new lows short-term for 'risk-assets': equities.

NDX100 Daily Close @ 05/21/2012

The immediate test will be @ the 0.382 retrace of losses from the 2012 high of 2795.35 @ 2600 +/-.
Should that test 'fail' and the NDX reverse back lower to new lows (all academic for now); then we shall the makings of an 'impulsive' reversal from the March 2012 highs....not good.

NYSE @ 200Day Moving Average, NDX @ new low...

NDX100 Daily Close @ 05/15/2012

All gets a bit 'binomial' here; as the lows have been breached for both the NDX100 & German DAX (previous post).
The 38% retrace is 'alive & well'; still supporting the 'it's all OK' thesis. Time spent correcting off the recent highs now commensurate with the long rally without a correction. A small negative loss in the McClellan Oscillator also signals a 'major move' within 4 days....which way is the big Q?
The NYSE Composite is now back to its 200day Simple Moving Average, is that good enough to 'catalyze' a bounce???

NDX100 (& DAX) Lows still in place.......

NDX100 Daily Close @ 05/14/2012

For all the drama in Greece & JPM machinations, the lows in the NDX100 are still in place (barely), so too the German DAX, whilst the S&P500 & NYSE plumb new lows.
The 'Non-Confirmation' by the high Beta indices in the NDX & DAX is a warning for the bears not to get too carried away @ this moment in time.
Below the lows and they can then probably 'party'.
The NDX100 also resides above its 38% retrace, placing it still in 'bullish' mode............

NDX100: Short-term low?

NDX100 Daily Close @ 05/08/2012

The 'larger correction' has indeed unfolded, the Weekly Close below the 50day SMA doing the 'trick'.
An equality move from the secondary high @ 2756.81 has been scored @ 2587 (2590), the candle-stick daily chart highly suggestive that the NDX is susceptible to a counter-rally back towards the highs.
Bears be aware!

NDX100: Still under the influence........

NDX100 Daily Chart Close @ 05/03/2012

The Indecisive Candle Tuesday still exerts its influence as the NDX100 closes back @ the 50day SMA. Perhaps a Weekly Close below such will 'work a charm' and see a larger correction unfold?

NDX100 Short-Term high ?

NDX Daily Close @ 05/01/2012

Immediately off the back of the 'Bullish Engulfing' Weekly Chart...this?!
Bifurcated markets as the DOW advances 1/2% , the BKX & Transports UP 1%+, yet the Small Caps & Russell2000 'Flat'.
The McClellan is signalling a 'Major Move' for the NDX/IXIC in the next 4 trading days, with a -4 reading....portending THAT move to be lower???