ChOTD-4/3/14 S&P Latin America: Hitting Picture Perfect Fib Retr Cluster; Will Hopeful Buyers Get Their Pullback?

We wanted to post about the turn in Latin American stocks for the past month but never got the chance. In January, a false breakdown bounced precisely off the 61.8% Fibonacci retracement of the 2008-2011 rally and subsequently successfully retested that low. After an explosive short-term rally, the S&P Latin America Index has rallied to a picture perfect triple Fibonacci retracement cluster from highs over the past few years. For investors or traders looking to buy into this potential long-term turn, this level could provide a brief pause or pullback.