Down But Not Out On IGRA

Peru's IGRA equity index is demonstrating a great deal of respect for the 18-month trendline resistance we outlined on April 1 (see 'Equities: New Quarter, Renewed Optimism') as global markets appear to be taking a breather. The daily relative strength index (RSI) for the bourse is implying that Peruvian stocks are looking overcooked, potentially acting as a sell signal for investors.

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