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Brazil's market is in a defensive regime.

Edition no. 6,601 · August 24, 2026 · Regime defensivo · for 85 days · reconstructed essentials · 2 min read

◦ Index methodology v2.2. See the methodology.

The phase stays pinned to neutral ground. Across asset classes, utilities lost relative ground.

The Pulse
Perene Risk Indexthe market’s structural state34/100Today → 0
Ânima · structuralthe market’s prevailing risk appetite28/100Today ▾ -2
Ânima · short-termthe market’s recent move45/100Today ▾ -1
how to read?
Risk above the territory's midline.
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The Archive Remembers ◎

Other times the archive saw the market in a state like today’s — what came next.

  1. ●A year agoSeptember 30, 2025
    Ibovespa that day146,237 pts
    the archive suggested+8% in 6m hist. median
    what happened in 6 months188,162 pts (+29%)
    Reread the edition of September 30, 2025 →
  2. ○Five years agoJune 2021
    Ibovespa 126,802 → 103,922 pts (-18% in 6m) · reread →
  3. ○First time in the archiveJanuary 2000
    Ibovespa 16,388 → 16,290 pts (-1% in 6m) · reread →

In 74 times the archive saw the market in a state like today’s since 2000, the Ibovespa was higher six months later 68% of the time — median +6.6% — not always upward. Explore the archive →

Gravitational neighbors — days that behave like this one, from any era
Editions in a similar state

Other editions the archive read in a market state close to today’s — same neighbourhood of the Perene Risk Index.

  1. February 29, 2000Perene 35
  2. January 31, 2000Perene 33
  3. October 31, 2009Perene 33
  4. November 30, 2007Perene 35
  5. June 30, 2017Perene 35 · neutral
  6. July 31, 2002Perene 33
Today’s Read

The global backdrop is moderate risk-on and the intermarket neutral.

Observed distribution, not a forecast.

  • Ibovespa: 171,907 pts
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For the Next Edition

The next reading arrives on the next business day — the regime is monthly, and the daily pulse carries the change until month-end.

Edition no. 6,601 · Regime defensivo · for 85 days · Radar Perene

Concepts: Brazil Regime · Intermarket BR · Historical Analogs · How to read: six steps · Methodology · Research & Laboratory ·Track record · Every defensive stretch in the Observatory →

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