Backed By Bolsonaro

Regardless of your political view about the the President-elect of Brazil, Jair Messias Bolsonaro, there is no denying how well a few Brazilian stocks traded here in American have acted during what has been an otherwise unforgiving downtrend. 

GOL Airlines (GOL) is a Brazilian airline we have been tracking with Members for months now, seen on the first daily chart, below, acting brilliantly on a relative basis as it bases smooth without a worry in the world. 

And CEMIG (CIG), on the second daily chart, is a Brazilian power company; in effect an electrical utility player. Here, again, we have an exceptional chart relative to the market environment.

It remains to be seen exactly how Brazilian stocks will act under Bolsonaro in due time. But for now they sure have made a loud and clear statement given the global backdrop for equities we have seen since October.