A diamond pattern as described in the Encyclopedia of Technical Market Indicators by Colby & Meyers is established on the Brazilian Bovespa with today's slip under 60700. Given its rarity as a pattern no clarity has had established as to its statistical significance. But then a large number of Technical Analysts will be watching this in coming days. What do the coming emotions offer to a globally connected trader?

Yashwan Tup writes:

Last time when you spoke on CNBC India about a diamond pattern forming in Brazilian Bovespa and it slipped below 60700 on 15 Jan 2008, now on 22 Feb 2008 closing at 64608. Any pattern which you could follow after the formation of the diamond triangle and the present day charts?

I also saw you speak on CNBC on 22 Feb 2008. Your observations are beyond imagination — probably very few in India have a mindframe and observations like yours. I'm a follower and a diehard fan of your observations.


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