Radar PereneRadar Perene

Brazil's market is in a defensive regime.

Edition no. 6,635 · October 13, 2026 · Regime defensive · for 135 days · 2 min read

◦ Index methodology v2.2. See the methodology.

The Perene Index gave back ground and closed at 94. Sentiment did not shift: it stays upbeat.

The Pulse
Perene Risk Indexthe market’s structural state94/100Today ▾ -6
Ânima · structuralthe market’s prevailing risk appetite65/100Today ▾ -27
Ânima · short-termthe market’s recent move80/100Today ▲ +2
how to read?

The Perene Risk Index is stretched (94) while the month regime still reads defensive.

History favored gains — without unanimity.
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The Archive Remembers ◎

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

  1. ●Five years agoMay 31, 2021
    Ibovespa that day126,216 pts
    what happened in 6 months100,775 pts (-20%)
    Reread the edition of May 31, 2021 →
  2. ○First time in the archiveMay 2000
    Ibovespa 14,957 → 13,287 pts (-11% in 6m) · reread →

In 63 times the archive saw the market in a state like today’s since 2000, the Ibovespa was higher six months later 60% of the time — median +4.7% — not always upward. Explore the archive →

What Usually Comes Next
Similar cases — what came next

calibrating

Observed distribution, not a forecast · how the analogs are built →

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. March 31, 2021Perene 94 · risk-on
  2. May 31, 2021Perene 94 · broad risk-on
  3. November 30, 2013Perene 94 · risk-on
  4. June 30, 2018Perene 94 · neutral
  5. July 31, 2010Perene 94 · risk-on
  6. May 31, 2003Perene 94
Today’s Read

Observed distribution, not a forecast.

  • ciclicas-defensivas: calibrating
  • Ibovespa: 206,888 pts, +46.4% in 12 months
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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. 6,635 · Regime defensive · for 135 days · Radar Perene

Concepts: Brazil Regime · Intermarket BR · Historical Analogs · How to read: six steps · Methodology · Research & Laboratory ·Track record · See every extreme like this one in the Observatory →

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