Today, market makers will decide who is going to drive the train for the next weeks and months. Since Monday, May 19, the NASDAQ index has been posting lower highs and lower lows. Yesterday it closed higher than the opening prices. The line in the sand is at 21,040. If we close today below this level, bears take the driver's seat. It might take us to the...
Executive Summary We are overweighting SLC Agrícola (SLCE3.BZ) over U.S. agribusiness stocks (BG, ADM, MOS, CTVA, FPI) in the current macro environment. The key drivers are: Geopolitical arbitrage (Trump-Russia détente benefits Brazilian exporters more than U.S. firms). FX tailwinds (weaker USD boosts BRL-denominated farmland values). Commodity cycle...
No market structure break on the daily. Without a daily structure break, it is not a major correction. I expect additional falls.