---
title: 'Market Close Analysis - Brazilian Stocks and Indices (July 2, 2026)'
source: 'https://youtube.com/watch?v=vxp2xhsUWKA'
video_id: 'vxp2xhsUWKA'
date: 2026-07-28
duration_sec: 1994
channel: 'André Moraes'
---

# Market Close Analysis - Brazilian Stocks and Indices (July 2, 2026)

> Source: [Market Close Analysis - Brazilian Stocks and Indices (July 2, 2026)](https://youtube.com/watch?v=vxp2xhsUWKA)

## Summary

This video presents a daily market closing analysis focused on Brazilian stocks and indices, including Ibovespa, sector indices, and individual stocks like VALE3, PETR4, and ABV. The host, Flávio Pascoal, discusses technical setups, portfolio positions, and statistical probabilities for July, while also addressing viewer questions and promoting a trading strategy package.

### Key Points

- **Ibovespa Sideways Movement** [02:19] — The Ibovespa has been falling and then moving sideways for 22-23 days, stuck between 168,000 and 174,400. A breakout above 174,000 failed, indicating seller strength above that region.
- **Breakout Attempt and Failure** [03:10] — An initial breakout above 174,000 triggered bullish expectations, but the market reversed, closing lower. This suggests sellers are active near 173,900-174,000.
- **Industrial Index Consolidation** [04:48] — The INDX is in a tricky consolidation with a support at 27,000 points (touched multiple times) and a downtrend line forming a triangle. A breakout likely lacks force, so the host advises waiting.
- **ABV Position and Stop** [06:43] — The host is long on ABV with entry at 16.79, partial target at 17.59, final target at 19.26, and stop at 15.99. The stock is suffering, but they hold with a risk-reward of losing 8,695 to gain 25,140.
- **Portfolio Composition** [07:10] — The portfolio is 46% long and 19% short. Positions include short on Bova and Gemat, long on MultiBG, Copel ABV, Smartfit. A partial sale was executed on Smartfit, which is 4.5% from target.
- **July Statistical Probabilities** [12:54] — Historical data shows July has a 70% chance of being positive for Ibovespa (average gain 5.2% when up, 5.8% when down). Small caps have 77% probability of rising (average 5.6% gain). IFNC (financial index) is positive 73% of the time.
- **Presidential Cycle Influence** [14:07] — The host references Fabio Figueiredo's work on presidential cycles, suggesting the cycle is discreet and Ibovespa is marking a bottom. Combined with positive July statistics, it creates a data conflict for sellers.
- **Beta Calculation for B3** [29:50] — Using a tool, the host calculates B3SA3's beta relative to IBOV as 1.50, meaning B3 moves 1.6% for every 1% move in Ibovespa. Correlation is high (0.92). This makes B3 more volatile than the index.
- **Financial Sector Weight in Ibovespa** [30:35] — The financial sector accounts for 20-30% of the Ibovespa weight. Key stocks include ITUB, BBDC, BBSE, and others. If Ibovespa rises, the financial index likely rises with a beta above 1.

### Conclusion

The market remains indecisive, with Ibovespa stuck in a range and sector indices consolidating. Statistical probabilities for July are bullish, but technical levels suggest caution. The host advises patience and sticking to predefined plans.

## Transcript

with charts?  The Strategia Time portfolio analyzes over 200 assets and delivers everything ready to go.  Entry, stop, and target directly in the app.  It's swing trading with method, results, and practicality. Try it for 7 days risk-free.  Start today
with those who understand the music market. Well, if you liked it, the link is in the description, and buying through that link helps sponsor this channel.
5:30, time to focus on the chart, a program that focuses on what matters, which is the price. Speaking to you all here, Flávio Pascoal, let's analyze this closing, let's see what was
interesting today, right?  One day we had an expectation of a breakout, of congestion and then a possible reversal, a test of the top, but the possible reversal, a test of the top, but the market didn't want it and it's been messing with
us.  Okay, no problem. Come on, let's study, let's see what's interesting there in a little while, after the intro.
remember to always like the video; it's how you can support our we do here?  If you're following along every day, don't forget to like and subscribe to the channel, both mine and André's, and J's, and
Paco's, and Túlio's, everyone here on live trading.  So, we all need your support, and liking and subscribing to the channel is a way for you to contribute to our work, okay? If you'd like to become a member, feel
free.  It's R$99, tomorrow there's an exclusive live stream just for members. Hey, there are a bunch of links in the description, check them out later, the promotion, the vacation with trading one is still in the description.  I think this promotion has already ended, so hurry because
tomorrow this link might not be working anymore.  And that's it, okay?  I'm not going to do any self-promotion in the middle of the show, I'll go straight to what matters.  Is it closed? Let's go.  Ibovespa, dude. We've been observing that the Ibovespa falls
and then moves sideways, right?  That was the last movement he made before falling and ending up on his side.  Now he's fallen and is playing on the side for good , right?  I was expecting him to fulfill his promise and come here to this green rectangle, which is a target, right?  A target of either
leg or size of movement. However, uh, he decided not to go, meaning he doesn't want to break 168,000, let's round it off here, okay?  And he doesn't want to
break 174,400. No, he already said he doesn't want to, okay?  And that's all for now .  He's been here for 22 or 23 days already, he's in this area and he's not going
anywhere.  Today, at the beginning of the day, it was a very intense day, so much so that I thought, I set an alarm here above the 174, right?  And it broke through, and there was a
I said, "Man, it's going to be great. If it closes above that, it'll be a huge sign for the buyer, and then we can increase our portfolio position and everything else. We even sent some trades to the portfolio right away, but the
some trades to the portfolio right away, but the market, you know, delivered, and at the end of the day, it ended up giving us the runaround. And it actually shows a sign of actually shows a sign of selling strength, right? That region above
selling strength, right? That region above 174,000, 173,900 is a region that interests the seller. So, for now, we continue waiting for our beloved bullish pivot. In fact, it even made the
bullish pivot, right, with the breakout here. It did it before 10, right? We don't like these breakouts before 10 o'clock. So, I'll wait until tomorrow to see if it breaks and So, I'll wait until tomorrow to see if it breaks and closes above 173,000, 174,100
to show that there are buyers and that it's going up."  D, otherwise, it's consolidation, so waiting means having patience to make a decision, okay? Today we're looking at the
industrial index, right? Today is Thursday, right? Thursday, or am I confused, Today is Thursday, so we're looking at the industrial index and also repeating the
index that repeats. And we're going to look at the stocks that make up each of them, look at the stocks that make up each of them, look at all of them. The industrial index, I think, is a lot, we only look at the ones that I think
lot, we only look at the ones that I think have more weight. Let's go. INDX, man, it's a tricky consolidation, right? Because it has a very well-established support point here at 27,000 points. Okay? It already has one touch, two touches,
three touches showing that it's a region where the buyer appears every region where the buyer appears every time it reaches that price level, that point, which is an index, right? And there's a downtrend line here, right? Also here.  Making a
triangle, right? Let me draw it here , a big triangle showing that this is consolidated, right? It's a bit crooked here, right? Drawing it by hand. Uh, and it's
to wait, I don't want to buy or sell. Even breaking this trend line here is complex, because if you look at the short-term movement, it's a sideways movement. So it will continue moving sideways,
break this line and this breakout is worthless, okay? Because it's a breakout without force, without an explosion of movement, right? Right? It will be a very, very likely
So, for me, the best thing is to stay out, wait a little longer, also because I'm going to see if it goes sideways, so we wait here too. There's nothing to do, it broke, pivoted, has a target of 48, 42, no.  It's been
sitting there for 5 days. The baby, we bought it, right, but it's not moving either, right? You can see that besides this giant rectangle that we wanted it to break through, it has a smaller rectangle here that it also can't
break through. I'll even erase this V and change its color here. Let me make it gray, see. So the blue is up there, see. And then there's a target at 19.26.
We bought it and we're suffering, right? Our purchase was at 16.79. It arrived here in the second hour, right? Then it sank and our stop is at 15.99. If it continues to fall, we'll get out. If it does the hero's journey and decides to go up,
1759 is the partial, 19 and 19 is the final exit in ABV, okay? We're long on it. Speaking of being long, we
can take a look at the portfolio, right? Since we're also on André's channel Since we're also on André's channel , we're 46% long and 19  Sold. So, actually, the accumulated loss is 40%, right? If we had
closed everything, it would be 2412, we would have added to this final value of 329. However, we didn't do that because we accept losing 8,695 to try to gain 25,140.
Uh, we are short on Bova, short on Gemat, and long on MultiBG, okay? We did a partial sale today on YouTube. Uh, Copel ABV, Smartfit. Smartfit went up quite a bit, right? Because, look, you would see how far it is from, look, it's
from, look, it's 4.5% from the target, right? Here I show how much is missing to reach the target in question, whether it's final or partial, so we can compare and sometimes make a technical adjustment of the stock. Uh, that's
it, okay? So, we're suffering on ABV there. We're together. Embraer, we talked about buying it here, but it was a difficult purchase and it's going up, but it was a purchase I wouldn't have made, okay? But it's...  Going. I think whoever bought
because they saw the study or because they asked, I would already change my stop, I would put the adjusted stop at 78, 88 and hopefully it goes up tomorrow so you can make a partial profit. I don't see an
entry in it today. Ah, SUSB, we talked about selling it. The sale is happening, it made a partial profit, we adjusted the stop to 4102, we exited today, right? Today at the opening it hit that revised stop, no problem.
no problem. Diab is this don't know, let me delete it. Uh, so Suzano, we already talked about it, we had talked about it. Okay, Fabim, for me it's consolidated in that region. I
don't want anything with it, okay? Lots of shadows, notice, right? Look at the bottom of that blue rectangle, you'll start to see shadows. Look from above, you'll start to see shadows. Man, it's a fault, a fault here, a fault
there, and I don't like to stay inside faults, so leave it alone. Gel GBR waiting for a bullish pivot.  To consider buying. Cirela is thinking about breaking the trend line. We talked about it in
Sunday's study, if I'm not mistaken. It was in Sunday's study. I think it was, okay? This one here is one that I think went into the portfolio today. 23.60 buy, 22.46 partial stop 74. 2702 didn't trigger an entry, right? That's why it
's not in the portfolio when I showed it. It has to break that price I showed it. It has to break that price after 11 am. OK. So, Cirela, after 11 am. OK. So, Cirela, OK? For buying, Natura is very crazy, right?
OK? For buying, Natura is very crazy, right? Making very abrupt and volatile movements. So it falls a lot, rises a lot. Then today, a day that varied 4.2, let's leave the directional alone. Let me remove the trades here because this was
a day trade we did yesterday, right? It was tough, but it worked out . Let me remove it here. Trade. Done. It's a stock that we talked about buying here for options, right? But those who
took a short term didn't do it. No money. Those who took on a long-term position are starting to do some kind of financial thing, you know, with options. In this case, I don't see anything to do on paper. Uh, CSN, we saw a
beautiful sell, we adjusted our stop yesterday to 4.78 and exited today, right? We also have an email today about the game. It's great. Okay. It was a quick, explosive sell, we managed to get a good
value. And Pomodoro, man, it's consolidated at the bottom, near a support, a larger consolidation and a smaller consolidation, right? It's also a stock that I have no interest in trading. Going to the financial index, it's also an index
Going to the financial index, it's also an index that's quite mixed up, right? When you look, it marked a double top, broke the bottom confirming the double top, confirming the break of the rectangle with a target at 15,349,
but it stopped falling and tested the top, right? And now it has also stopped rising, right? And now it has also stopped rising, it's been sideways for four days.  Okay, there? There's a possibility of testing the top at 19,000. 1,300 to fall further, right? That would be leg
one here, this current one at 2, and then maybe a leg three in that region looking for a sell, but it's all very speculative, okay? So, uh, when you look statistically, uh, I like these studies, right, the
uh, I like these studies, right, the month of June, no, not June, the month of July, it's very positive for these indices, both for the Ibovespa and the electricity index. I'm trying to open it here in
Excel to show you. So all this, right, and then you take the issue of cycles, we're in a period where the cycle is discreet and the Ibovespa is marking a where the cycle is discreet and the Ibovespa is marking a bottom, uh, so everything gets very
mixed up, right? So we're kind of in a data conflict. Let me put it here like this, so we can study the statistics. we can study the statistics. 2026 or 2025 is missing from this calculation, right?
I had completed it, I don't know where it happened that it's not there.  But it's okay. But one month, one year won't make a difference, right? Look, you take Júlio make a difference, right? Look, you take Júlio and look at the Ibovespa, look, it's red here,
it has a 70% chance of being positive, 30% of being negative, its entire historical series. Even if I mark... Ah, it's because I zoomed in. So, let me put it here more like this, see? Then if I zoom in it won't be a problem.
Now yes, look. Júlio. Ah, so 70% counts 30, when it goes up it goes up Ah, so 70% counts 30, when it goes up it goes up 5.2, when it goes down it goes down 5.8 on average. Ah, the 5.2, when it goes down it goes down 5.8 on average. Ah, the small goes up 77%, falls 23, when it goes up it goes up
5.6, when it goes down it goes down 4.2. The Icon, look at the Icon, 81% Icon, 81% of the historical series, right? Not counting 2025, of the historical series, right? Not counting 2025, because I haven't updated it. Ah, the stock
went up, man, it only went down 18, right? We're looking at the IFNC...  Okay, 73% of the time it went up, looking at the IFNC...  Okay, 73% of the time it went up, 26% it went down. So you see there, look, real estate is up, 20% down, when it goes up, it goes up 7.2%. The real estate, look, it goes up 8.5%.
We have a period, right, if the presidential cycle turns out as we show here, I'm copying from Fábio Figueiredo, but I cite the fund and it's
right, and with this probability of the month being positive, then it's difficult to want to sell, right? But anyway, uh, the financial index is ugly. Waiting for it to do, okay? H ABCB4 consolidated, maybe, who
knows, think about a breakout strategy, buy on the top breakout with a stop at the bottom. Maybe. I'm going to wait for a rock trigger to happen here. I think the rock trigger will make more sense to me than buying the breakout before
buying the breakout before confirmation, okay? Then it's just a matter of, I don't know what. A  B3, for me, is a sell because it's breaking the trend line, but then there's all this issue I mentioned about cycles and
statistical probability. Uh, Bpac, nice stock, breaking the too, buy the breakout with a stop at the bottom, but the retracement is very close,
right? So it could be that if this retracement works, that is, if this is effectively a first leg down and then a second leg down, you'll be long at the moment when the market is going to veer downwards, right?
market is going to veer downwards, right? So there's that point to consider. So there's that point to consider. Uh, BRBI, man, that's a stock I don't want anything to do with. We talked about selling because someone asked, and
I said, "Man, you don't like selling and all that , surprising, right?"  He made the sale there and it did n't go anywhere.  Oh, nothing to do.  BRSR broke down, then returned to the average. If I need to install a pivot irrigation system, then I want to sell; I can't
buy it. BBSI, we talked about selling at 39.23. Here at closing time, right?  It's already been partially given. I think I would have already adjusted the stop loss.  I didn't adjust it, did I?  But anyway, adjust it, put a stop loss on the entry point if you
sold and see if it goes through, right?  It's already been partially given.  Now the box's gone into "Ghettoland" mode, [laughs], right? Caixa breaking its all-time high there.  I wish she had done a pullback before breaking it.  She went first.  Okay
before breaking it.  She went first.  Okay , go ahead.  Okay now.  And RBR, which was one we saw, Trigger Rock , probably , probably
few more days.  If she has a negative day, then I'll place a stop loss at the low.  For now, I don't see it being done.  Hey, BBAS, I want to sell, right?  The design is there, but for now, it's not possible.  BBDC broke out of the rectangle upwards with a negative candle.
Ugly as hell.  And that's our partial result for today, right?  We've already bought this one. So, we continue.  And Samb 11 is there, nothing's happening .  She put on a blindfold and it didn't work, and now she's putting on another blindfold, okay? She placed a sell order there due to a
She placed a sell order there due to a bottom breakout, and now she's going to place a sell order due to a correction to the moving average, right?  If you lose this fund here, if you lose these R$26 there, okay?  So there's this sale she made here for R$ 26.37.
If you want a new point, 2598, stop, 2717, stop, 2717, partial at 2479, final at 2241, remembering, partial at 2479, final at 2241, remembering, right, the statistics, the
right, the statistics, the presidential cycle, anyway, and it doesn't say that the market will fall, but rather that it will correct, okay?  So that's going to correct, okay?  So that's going to be the criterion, okay?  Oh,
participate in the Friday classes?  Hey, Euclides, ask a question. Friday classes?  Hey, Euclides, ask a question. We have a group where we exchange information, I post things about my day and all that
, you know?  Something I find interesting is how the weather was this morning. Let me put this here, showing how the world was and everything, how the steel mill was. Yes, and it's through this group that we send
Yes, and it's through this group that we send the link to the class.  To join this group, just click on this link here. Let me find it here. I thought.  It should be in the video description too, but it's this link here, Cides,
that I put there.  Then you'll stumble upon this landing page here, featuring this handsome, charming young man with this captivating smile. Then you fill in the information.  It's obvious, right? You have to fill this out to be added to the WhatsApp group.  You just have to plug in
your phone, right?  Beauty?  Once you're in there, that's it , you'll receive the link from there. , you'll receive the link from there. Beauty.  Hey, speak up, good afternoon.  Are you alright, my friend?  Let's go!  HD.  Where is Magalhães?  Good afternoon, thanks, thank you
for the like.  YouTube.  Any recommendations for how to proceed?  Thanks.  Uh, we did a partial HD scan on her today, right?  She managed, with great difficulty, to hit our exit, which was at 42.93, you
see here?  4293. Let me remove this line here.  Yes, that's our partial result.  Now I'm going to put the alarm up there, see.  43 plus 13, which is alarm here too, just in case it goes up too fast.  I want to be notified as
up too fast.  I want to be notified as well.  Our stop loss is at 40 with 57. So nothing has changed there, just the partial results from today, so stick to the plan, okay?
okay?  Because, well, how does it work, right, HD Magalhães?  When we send right, HD Magalhães?  When we send a call order, we send it with an entry point, stop loss, partial profit, and final exit point.  So, we understand that the client enters the
input, either puts the order number there or waits for the input to be processed, and then enters the outputs. So, it's something that doesn't need to be mentioned, because you were already notified in the first push with all the points. We give notice when we pay dividends,
just like we did today, so we had to let you know.  When we change the stop loss, when it's a partial result, we understand that it's not necessary, because when the call is made,
the data is already there.  When you set it up there, in your order form on the home broker or Profit platform, you already have to include the partial stock figures, right?  So stay alert, my friend.  Murilo Natura, has the point of sale arrived?  I don't
think so, Murila.  I think the statistical data isn't adding up with this the statistical data isn't adding up with this completely sideways BOV MECTref. I completely sideways BOV MECTref. I think
either you stay out of it, or you try to speculate more on buying, you know? Because we have data there that, at least for me, makes sense regarding the cycle, the statistical aspect. Well,
then I would look more for buying than for selling. Yeah, they put Natura there.  Natura, the point of sale has arrived.  He asked about Natura. Sorry, Maurilo.  I'm delirious here, man.  Dude, that's a sale for me.
For me, it's not there.  Oh, leg one, leg two.  Then you'll sell at the lowest point here with a stop loss up here.  There isn't a single pivot saying that the 60 minutes pointed downwards, right?  So, for me, this little pivot here is missing for her to be able to provide
for me it's a sale, it just doesn't have the team.  Ah, and then you also asked here about CSN, Brasquem has an entry for sale. CSN is gone, man.  CSN has already given up.  She gave the
CSN is gone, man.  CSN has already given up.  She gave the sale price here at 5.10 or 5.60.  We already left it today at the revised stop.  And Brasquen, man, it's a very complex role, man.  It's a very complex role that's in freefall, you see.
There's support in that region between 6 and 11. That's right, isn't it? If you really like risk, if your If you really like risk, if your appetite for risk is insatiable,
try putting something together by buying options.  I think Brasquem has liquidity for options, a bull spread, a 60-day call option,
very speculative.  That money said, " No, this is pocket change, if I lose it, I've lost it, and Brasquen is in an important position right there." support.  Now, selling isn't an option either,
is it?  That's way below average.  Well, it 's better to stay out of it. Hello and Axia, good afternoon.  Yeah, André talked about both of them today.  The web market.
buy with a stop down here. He commented in our room today.  So all you have to do is with a stop loss at the low from two days ago.  And Axia, he liked her too,
man. He called it a "queue jumper" to buy here at 5609, stop 53, or at 5291, for example, believing that the tension will recover here around 5920,
here around 5920, which could be a point of retracement and therefore a point where sellers might appear. Vanessa speaks.  You've been missing for a while, Vanessa!   She's been gone for a while , huh?  Tomorrow I will talk about long.
, huh?  Tomorrow I will talk about long. I'll try to explain it in a very relatable way, because it's a rather complex subject, right?  It involves a lot.  I'm not going to get into the math part of it because it doesn't
make sense to me.  Well, that would have to be a course with classes, with modules, and so on. So, tomorrow we'll have another lesson to introduce you to a tool that might be useful for you, and I'll try to present it in a pleasant and easy-to-
understand way, okay?  Hey André, how's it going , my friend?  Oh, Pri and TSA have a purchase, it went through, right?  André talked about her in Sunday's study session, but if there were two of them, I wouldn't
like her.  Oh, look, I'm the kind of guy who talks like that reporter, like, what's that reporter all about?  I don't remember the program where he talked and talked but said nothing.  I'm not like him. I mean it.  I didn't like that
tub purchase or the TSA purchase, did I ?  It would be yellow if it weren't for the blue, right?  André liked it.  A has already given a partial report and ITSA is making progress.  The purchase would be in 13 with 21, but it's already done, okay, Priscila?  I wouldn't touch
that stock anymore, okay? Because, look, Fibonacci, and even with that statistical possibility, I'm not going to just sit around doing nothing , right?  This might have been a
pretty big leg fall.  We managed to surf a piece of the leg two corrective.  And depending on what he does here, he can throw a three-legged fall, you know, there.  Well, since it's in a
region where buyers might appear, I would n't buy that stock anymore. Beauty?  Okay Flávio, if the Ibovespa changes trend and starts to rise, will the trend and starts to rise, will the B3 stock also change?
pri.  I don't know if I'll be able to find it here.  And I don't know how to calculate beta find it here.  And I don't know how to calculate beta properly.  I wanted to know properly.  I wanted to know how much the beta varies in the B3S3
relative to... Let me see if the fundamentals also have fundamentals also have
If I find it here, I'll show you how to press Ctrl+F here and it's
Historical data.  Profile. Hmm. Installationist.  Profile.   Oh my
what's this, FL?  I'm looking for
.  Let me press Ctrl+F here. Write beta
or is it arranged in a way that I can't see ?  Generally, beta is either greater than one ?  Generally, beta is either greater than one or less than one, right?
0.92.  Wow, it's a less volatile asset than the Ibovespa, man.  0.95.
stock exchanges, you see?  I wanted information specifically about the Ibovespa, only the Ibovespa. be wrong. Something must be wrong.  But everything is fine.  But
Something must be wrong.  But everything is fine.  But so, uh, probably, Priscila, if the Ibovespa changes trend and goes up, then these main stocks end up going up too, right?  B3 has a reasonable weight in the index, right?  And the
reasonable weight in the index, right?  And the financial index is 20-25% of the Ibovespa.  She has financial index is 20-25% of the Ibovespa.  She has ITUB 3,4, BBDC3, BBDC4, BBSE, Caixa and ITSA, BPAC, IRBR,
uh, she must have, she must, she doesn't have B3 from there. So you take all of those, add up their combined weight, and it will come to more than 20% of the Ibovespa index.  So, if the Ibovespa goes up, it's unlikely that the B3 won't go up as well, especially since this is a
monopoly, right?  This is a monopoly. And thinking about pullbacks, at the point of And thinking about pullbacks, at the point of testing the top, uh, there's the 17% region, right?  I'm not convinced about this
following here.  Let's go with Claudia. Claudia, my friend, look, I'm going to put it here Claudia, my friend, look, I'm going to put it here for you.  Let's go! What is the beta?  How does B3SA3
is the beta?  How does B3SA3 compare to the IBOV or IBOVA 11? Let's see here. Let's see what she tells us here.   He
Let's see what she tells us here.   He 's thinking, calculating. Parará parar piri.  Oh, 1.50.  Now that's more like it!
While the Iboves index varies by 1%, the B3 index varies by 1.6%.  That's cool, right? B3 index varies by 1.6%.  That's cool, right? Oh, correlation, right?  Anything above 70 is already good.  Here we even get into talking about
long speech, like, okay?  So, in other words, B3 is more volatile than [clearing throat] , right?  And what percentage of the financial sector is
, right?  And what percentage of the financial sector is the Ibovespa? Like ITSA4, Like ITSA4, YouTube 4, BBT, I typed it wrong, but he
YouTube 4, BBT, I typed it wrong, but he understands, okay?  Bpac 11, etc. understands, okay?  Bpac 11, etc. Hey, answer in one line, otherwise he'll keep writing 200 things and I don't want that.
Okay, let's see here.  Adding banks together.   That's all .  Ah, here, the financial sector usually accounts for 25-30% of the stock market's weight.  He could be
artificial intelligence could have given me the correct information, right?  Okay, so we can already 20%, right? So that financial index corresponds to 20-30% of the Ibovespa.  So if the Ibovespa goes up, it's obvious that the
Ibovespa goes up, it's obvious that the financial index will go up and the beta of the IFNC financial index will go up and the beta of the IFNC should be higher relative to the IBOV, right?  So when the IBOV rises 1%, the IFNC should rise 1.3, 1.4.  Well, that's it.
should rise 1.3, 1.4.  Well, that's it. Hey Carmo, how's it going?  Good afternoon.  Hey Rô, everything alright?  She arrived late, but she arrived.  And that's what matters.  But I'm pick up the child.  I don't think my wife will be able to pick it up today.  Here I
go, running to get the child.  Okay everyone, thank you for participating.  Today was quick, there wasn't much to talk about anyway .  Okay, the market failed there, seeing it give the signal and continue there for us to get excited about the
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