Starting in early 2016, the Brazil ETF symbol EWZ roared almost 200% higher based on……..what…….a big surge in personal shaving services? I’m not sure. But their stock market went insane, shoving away anyone foolish enough to be in their path.
My view is that this surge is at the cusp of failure. Here is the broad SlopeCharts (why aren’t ALL of you people using this product? It’s FREE, and it’s FANTASTIC!)
What I’m watching in particular is that sharply-ascending blue trendline. Break that (which wouldn’t take much), and Brazil is no longer a nut…………it’s toast.