Latin Equities: Monthly Closes Remain Unconvincing

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Although Latin equity markets appear to have largely shrugged off the initial fallout from the Dubai World debt crisis, which surfaced on November 26, we note that a look at the monthly charts suggests that selectivity will be key going forward. With another month coming to a close, we have seen a relatively impressive rebound from the generally weak monthly closes seen a month earlier (see our online service on November 2 'Latin Equities: Weak Monthly Close Calls For Caution').