Mexico’s stock market has been a star

Mexico’s stock market has hit an all-time high, following a recent 6 week winning streak.

In fact, the index has risen 8 of its past 9 weeks.

This week, Mexico’s main index registered a quinella of ‘overbought extremes’ and while momentum can suggest prospects of an extended move higher, my probability is conditioned towards selling, trimming and/or short.

Some may dismiss the importance of Mexico’s equity market but it’s GDP is ranked 15th in the world, which isn’t not too far away from Australia’s position at 13.

https://countryeconomy.com/countries/compare/mexico/australia

Incidentally, since the lows seen in 2009, the ASX 200 has risen 131% while Mexico’s IPC Index has climbed 225%.

December 23, 2023

by Rob Zdravevski

rob@karriasset.com.au