Colombia Stock Market Bounces 0.43% as the Right Surges Late Before the May 31 Vote
COLCAP Colombia today reflects Tuesday’s 0.43% bounce to 2,110.01, recovering part of Monday’s drop. The relief came as Polymarket showed De la Espriella surging to 44%, ahead of Cepeda’s 42% — the late right consolidation the market wanted. The election is 11 days out. RSI 35.15 still oversold.
The Big Three
COLCAP closed Tuesday at 2,110.01 (+0.43%, +8.93 pts), recovering part of Monday’s drop and re-entering the lower cloud. Range 2,094–2,123. The bounce was modest because the election binary is 11 days out and the COLCAP is the LatAm market most exposed to a single domestic event. Brazil fell 1.52% on its own election scandal; Colombia steadied.
The relief tracked a polling shift. Polymarket now shows De la Espriella surging to 44%, ahead of Cepeda’s 42%. Cepeda (Petro continuity) still cannot cross the 50% threshold. A consolidated anti-Petro vote improves runoff arithmetic, lifting equities off Monday’s low.
RSI fast 35.15, slow 37.93 — still oversold. MACD histogram −5.74 (Monday −8.21), narrowing, positive-turning continues. The close sits between the cloud bottom 2,089 and cloud top 2,120; the 200-DMA at 2,042.58 is the 3.2% floor. BanRep at 11.25%; the Petro rupture is unresolved.
02 Session Data
| Metric | Value | Change | Context |
|---|---|---|---|
| COLCAP close | 2,110.01 | +0.43% | Re-entered lower cloud |
| Intraday range | 2,094 – 2,123 | 29 pts | Held above cloud floor |
| Cloud band | 2,089 – 2,120 | Close inside | Cloud top is resistance |
| RSI fast / slow | 35.15 / 37.93 | Recovering | Still oversold |
| MACD histogram | −5.74 | Narrowing | From Monday −8.21 |
| Polymarket De la Espriella | ~44% | Surging | Now ahead of Cepeda |
| Polymarket Cepeda | ~42% | Slipped to 2nd | Under 50% threshold |
Live Market IntelligenceColombia — Live Market Board
Rio Times · Live Market Intelligence
Colombia — Live Market Board
+0.00%
173,371.35
-0.20%
66,125.27
-0.74%
10,896.87
+0.10%
3,223,652
+0.00%
2,298.34
+0.00%
55,645.90
—
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| COLCAP | 2,298.34 | +0.00% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| USD/COP | 3,251 | -0.54% | -19.13% | 3,269 | 3,255 | 3,251 | — |
| BRENT | 90.94 | +1.93% | +31.40% | 89.22 | 90.94 | 87.88 | 13,633 |
| WTI | 84.15 | +1.11% | +25.22% | 83.23 | 84.15 | 81.39 | 85,705 |
| ECOPETROL | 16.04 | -0.34% | +81.33% | 16.09 | 16.14 | 15.86 | 1,158,995 |
| BANCOLOMBIA | 80.82 | +0.51% | +76.58% | 80.41 | 81.36 | 80.04 | 182,159 |
| GRUPO AVAL | 4.95 | +0.61% | +65.00% | 4.92 | 5.05 | 4.91 | 54,368 |
| TECNOGLASS | 46.11 | -0.80% | -38.19% | 46.48 | 46.56 | 45.64 | 132,307 |
| CREDICORP | 386.85 | -0.96% | +70.92% | 390.58 | 397.68 | 386.11 | 238,634 |
| BUENAVENTURA | 30.06 | -0.60% | +72.46% | 30.24 | 30.56 | 29.40 | 1,080,781 |
| SOUTHERN COPPER | 175.07 | +1.50% | +85.07% | 172.48 | 177.79 | 173.69 | 1,059,634 |
03 Why It Bounced
Local Driver: Right consolidates late on Polymarket
Polymarket now shows De la Espriella at 44%, ahead of Cepeda’s 42% — the late consolidation the market wanted. The Invamer survey April 26 had Cepeda 44.3%, De la Espriella 21.5%, Valencia 19.8%; the prediction-market move signals the right coalescing. A consolidated opposition improves the runoff arithmetic, since any head-to-head projects against Cepeda.
External Trigger: No fresh Warsh follow-through
Global yields stalled and the dollar bid eased after Friday’s Warsh shock, removing the external pressure that compounded Monday’s drop. With the peso steadier, the COLCAP traded its own catalyst. The bounce stayed modest because the BBVA short-COP call remains live and the binary is 11 days out — the relief is conditional on the polling holding.
§04 · Market Commentary
The market is trading the runoff arithmetic, not the first round. With Cepeda unable to cross 50% and the right consolidating, the probability of an anti-Petro runoff win has risen — lifting equities off Monday’s low. The 2022 precedent looms: Credicorp called the FX market binary, citing the peso’s jump from 3,800 to 5,200 around Petro’s inauguration. A clean consolidation cuts that tail.
Technically the bounce is shallow. The close re-entered the lower cloud but sits below the 2,120 cloud top. RSI 35 still oversold, MACD narrowing. The 200-DMA at 2,042 is the structural floor. The next 11 days are pure polling sensitivity: a right consolidation extends the relief; a Cepeda recovery toward 50% re-prices the downside.
05 Technical Snapshot
COLCAP closed at 2,110.01, re-entering the lower cloud after Monday’s sub-cloud close. The cloud spans 2,089–2,120; the close sits inside, the cloud top 2,120 the immediate resistance and the 20-DMA at 2,131 above. The 200-DMA at 2,042.58 is the 3.2% structural floor, untested this cycle. MACD histogram −5.74 narrowing from Monday’s −8.21, positive-turning. RSI fast 35.15, slow 37.93 — oversold, modest recovery.
06 Forward Look
07 Questions & Answers
Verdict
Tuesday’s 0.43% bounce recovered part of Monday’s drop as Polymarket showed De la Espriella surging to 44%, ahead of Cepeda’s 42% — the late right consolidation the market wanted. A consolidated opposition improves the runoff arithmetic and cuts the 2022-style peso tail. The bounce stayed shallow: RSI 35 oversold, the close inside the lower cloud, the binary 11 days out.
Related: Monday’s election-risk drop · Three-way race deep analysis · Brazil election scandal parallel.
Confirmation gate: 2,120 cloud top. Clear = relief toward 2,204; reject = cloud-floor retest at 2,089.
Disclaimer: This report is editorial market analysis based on publicly available data. It is not investment advice. Markets carry risk; consult a licensed professional before trading.
Read More from The Rio Times