The IPC Index (Index of Prices and Quotes) shows positive signs, as well as an accelerated recovery of the lost ground.
Today the IPC breaks the dynamic resistance that began from 26 April (red circle in the figure), when the market correction began. This resistance was tested twice (13 and 26 May).
Just on May 13 becomes the new resistance that must now beat the market over 32.500 points.
It is also important to note that the IPC has established very strong support in the 30,000 points, which has been tested on 4 occasions (marked with numbers in the chart.)
The MACD indicator shows that it is breaking its moving average, which is a positive sign (yellow circle in the figure). Furthermore, the RSI and Stochastic are on the rise and have room for a recovery.
The Mexican market (IPC) shows advance in their movements compare to the Dow Jones 30 Industrials (DJI), for a couple of days. But do not set a trend. Trends are first confirmed by the U.S. market.
Supposedly emerging markets will drive the global economy during 2010, led by China. On the other hand the risks come from the old world (Europe), but the fundamentals in emerging countries have not been affected yet. In such a way that Mexico is in the package of so-called emerging.
In this sense, Mexico has been tempered (softened) his movements in this correction and began to recover strongly. But DJI did yesterday a pullback to validate the break of their bear channel and Mexico still does not validate the breakup.
Attention, tomorrow, Friday 28 IPC could face the resistance in 32.500, if the trend continues. Or can pullback to validate their breakup. The first scenario is most likely.
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