The Brazil chart is printing a classic higher higher and higher low chart. It has been doing this for the entire year. Also note all the EMAs are moving higher, the shorter EMAs are above the lower and prices are above all the EMAs -- the most bullish orientation possible.
A.) The Russian market rose from March to early June
B.) Prices consolidated in a downward sloping pennant pattern from June until late July
C.) Prices continued higher from late July until now
D.) Prices have broken through upside resistance, consolidated gains and then moved higher. Also note that as prices have moved higher they have made several upside gaps.
India;
A.) Prices gap higher
B.) Prices form an upward sloping trend
C.) Prices move through upside resistance and then continue to move higher
China
A.) Prices move higher in a strong upward move
B.) Prices consolidate
And just for good measure
Emerging European markets are also rallying
A.) Prices form a strong uptrend
B.) Prices break through upside resistance and continue higher
