The objective of this second part will be to continue the line of reasoning initiated in the first part, exclusively dealing with the relationship between the future index (IND) and the Bovespa Index (IBOV) and how the players that win in the arbitrage between these two markets make me discredit of the use of technical analysis for stocks in the intraday tiume frame.
Probably the first contact with the financial market of most Brazilian investors was through technical analysis. I started there myself. Introductory stock exchange courses with emphasis on graphical analysis are the most abundant in the market as well as books and discussion forums on the subject. In Youtube, it is enough to search by the name of some technical indicator that will appear diverse tutorials explaining how to use it, as well as the parameters in which one must calibrate it to obtain the greater profitability. In addition, practical examples are always presented where such an indicator seems to perfectly predict the future.