{"id":382,"date":"2009-10-28T23:58:33","date_gmt":"2009-10-29T03:58:33","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=382"},"modified":"2009-10-28T23:58:33","modified_gmt":"2009-10-29T03:58:33","slug":"olympics-rally-ends-for-ewz","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/","title":{"rendered":"Olympics Rally Ends for the Brazil Index Fund"},"content":{"rendered":"<p>The current correction has produced a LOT of intriguing charts. The Brazil Index Fund ETF, EWZ, is certainly one of them (shown below). EWZ suffered its largest one-day drop since March, and it has now completed a roundtrip for its Olympics-driven rally. EWZ is now already down 12% from its closing 14-month high just last week.<\/p>\n<p>Shortly after Brazil won the privilege of hosting the 2016 Olympic Summer Games, <a href=\"http:\/\/drduru.com\/onetwentytwo\/2009\/10\/04\/invest-in-brazil\/\">I wrote that Brazil presented much greater investment potential than the U.S.<\/a> I am treating this correction as an attractive buying opportunity. I suspect that EWZ will reverse at least 20% from its highs. That point just happens to be $62 which represents the location of the last breakout from consolidation to fresh 52-week highs and a new rally.<\/p>\n<p>See chart below:<\/p>\n<p><center><br \/>\n<figure id=\"attachment_384\" aria-describedby=\"caption-attachment-384\" style=\"width: 515px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg\" alt=\"Brazilian stocks sell-off\" title=\"091028_EWZ\" width=\"525\" height=\"315\" class=\"size-full wp-image-384\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg 525w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ-300x180.jpg 300w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><figcaption id=\"caption-attachment-384\" class=\"wp-caption-text\">Brazilian stocks sell-off<\/figcaption><\/figure><br \/>\n*<strong>Chart created using TeleChart:<\/strong> <a href=\"http:\/\/www.worden.com\/CURRENTAFPROMO.aspx?AFCODE=866\"><img decoding=\"async\" src=\"http:\/\/www.worden.com\/Content\/Banners\/images\/88x31.gif\"><\/a><br \/>\n<\/center><\/p>\n<p>Note well that <a href=\"http:\/\/www.forbes.com\/feeds\/reuters\/2009\/10\/20\/2009-10-20T201846Z_01_N20443536_RTRIDST_0_BRAZIL-ECONOMY-TAX-ANALYSIS.html\">Brazil recently proposed a 2% capital tax on foreign investments<\/a> in an effort to raise revenues, stop the appreciation in the real (Brazil&#8217;s currency), and prevent an asset bubble. This announcement marked a top in EWZ, but a 20% or more correction should be more than enough buffer for this bump in the road.<\/p>\n<p>Be careful out there!<\/p>\n<p>Full disclosure: Long TNE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The current correction has produced a LOT of intriguing charts. The Brazil Index Fund ETF, EWZ, is certainly one of them (shown below). EWZ suffered its largest one-day drop since March, and it has now completed a roundtrip for its Olympics-driven rally. EWZ is now already down 12% from its closing 14-month high just last &#8230; <a title=\"Olympics Rally Ends for the Brazil Index Fund\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[181,86,1],"tags":[245,183],"class_list":["post-382","post","type-post","status-publish","format-standard","hentry","category-brazil","category-investing","category-uncategorized","tag-brazil-index-fund-etf","tag-ewz"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Olympics Rally Ends for the Brazil Index Fund - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Olympics Rally Ends for the Brazil Index Fund - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"The current correction has produced a LOT of intriguing charts. The Brazil Index Fund ETF, EWZ, is certainly one of them (shown below). EWZ suffered its largest one-day drop since March, and it has now completed a roundtrip for its Olympics-driven rally. EWZ is now already down 12% from its closing 14-month high just last ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2009-10-29T03:58:33+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"Olympics Rally Ends for the Brazil Index Fund\",\"datePublished\":\"2009-10-29T03:58:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/\"},\"wordCount\":215,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/10\\\/091028_EWZ.jpg\",\"keywords\":[\"Brazil Index Fund ETF\",\"EWZ\"],\"articleSection\":[\"Brazil\",\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/\",\"name\":\"Olympics Rally Ends for the Brazil Index Fund - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/10\\\/091028_EWZ.jpg\",\"datePublished\":\"2009-10-29T03:58:33+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#primaryimage\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/10\\\/091028_EWZ.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/10\\\/091028_EWZ.jpg\",\"width\":\"525\",\"height\":\"315\",\"caption\":\"Brazilian stocks sell-off\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/10\\\/28\\\/olympics-rally-ends-for-ewz\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Olympics Rally Ends for the Brazil Index Fund\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Olympics Rally Ends for the Brazil Index Fund - ONE-TWENTY TWO: Trading Financial Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/","og_locale":"en_US","og_type":"article","og_title":"Olympics Rally Ends for the Brazil Index Fund - ONE-TWENTY TWO: Trading Financial Markets","og_description":"The current correction has produced a LOT of intriguing charts. The Brazil Index Fund ETF, EWZ, is certainly one of them (shown below). EWZ suffered its largest one-day drop since March, and it has now completed a roundtrip for its Olympics-driven rally. EWZ is now already down 12% from its closing 14-month high just last ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2009-10-29T03:58:33+00:00","og_image":[{"url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg","type":"","width":"","height":""}],"author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"Olympics Rally Ends for the Brazil Index Fund","datePublished":"2009-10-29T03:58:33+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/"},"wordCount":215,"commentCount":1,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg","keywords":["Brazil Index Fund ETF","EWZ"],"articleSection":["Brazil","Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/","url":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/","name":"Olympics Rally Ends for the Brazil Index Fund - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg","datePublished":"2009-10-29T03:58:33+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#primaryimage","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/10\/091028_EWZ.jpg","width":"525","height":"315","caption":"Brazilian stocks sell-off"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/10\/28\/olympics-rally-ends-for-ewz\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"Olympics Rally Ends for the Brazil Index Fund"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=382"}],"version-history":[{"count":4,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/382\/revisions"}],"predecessor-version":[{"id":387,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/382\/revisions\/387"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}