United States
SPY
In the case of the US stock market, It has respected the support mentioned in our report of the 29 October, around USD 260 by action of the SPY ETF. Starting from there, had a strong rebound.
We maintain the level of USD 275 as the key to be able to infer that it starts a new bullish cycle.
An alternative for that eventuality but keeping a limited risk, would buy purchase options (o calls) of price in USD 275, in mid November at an approximate cost of around of the 1% mentioned the level of resistance exercise price.
Argentina
Banco Macro (BMA)
This action went bankrupt during the day, significantly, the level of resistance set in USD 45. At the same time, exceeded the moving average of 30 days. This means a buy signal but, to the significance of this day hikes, is expected greater volatility even with intra corrections.
Grupo Financiero Galicia (GGAL)
The action of the Banco Galicia broke the resistance mark in USD 25, with a rate hike during the day (mid wheel) del 12%. Apply the same comments to the Banco Macro.
French Bank (BFR)
In the case of the French Bank, the previous behavior already indicated the possibility of rate hike, recommending have positions. During the day, This trend is consolidating and we maintain our recommendation to be purchased with a new stop-loss in USD 11,00.
Banco Supervielle (SUPV)
As in the previous case, We had recommended to have positions by a previous buyer tendency. The same is confirmed during the day and the stop-loss You should upgrade to USD 8.
Cresud (CRESY)
Despite the rise of today, We believe there is no confirmed a break the downward trend. We should expect 2 o 3 wheels above the level of USD 13 to infer a new bullish cycle.
Telecom (TEO)
This action has been lateralizando since the beginning of the month of August. As we indicated in the previous report, a break of the resistance in USD 20 would enable subsequent hikes of certain relevance.
Edenor (EDN)
Edenor is also showing a side trend since early September. We have the breakdown of the level of USD 24 as a clear sign of further hikes.
Pampa energy (PAM)
The action of Pampa is approaching the level of resistance of USD 35 by ADR. The breakdown of such level enables subsequent hikes.
YPF (YPF)
This action is showing a bullish recovery, which is confirmed with the breakdown of the level indicated the 29 October, in USD 16,50.
Transportadora de Gas del Sur (TGS)
From three wheels maintains an uptrend. We still recommend to have positions, with new stop-loss in USD 14.
Brazil
Brazilian shares have also reflected upward movements, but in a proportion much lower than what was observed during the day in Argentine actions. ETF EWZ of Brazilian shares has broken the resistance of USD 40, whereupon we recommend to take positions with stop-loss in USD 39,50.