IBC trade ideas
Spanish IBEX 35 close to bear market dropIBEX now at 9180.
At 9000 it will officially be in a BEAR market (-20% from 2017 peak)....
CORRECTION IN THE IBEX35 - DAILYHey Traders,
Looking for these moves in the Ibex35.
We are looking for the area 8400-9000 points and then we will expect a total reversal for a new uptrend rally.
Trade with care,
Carlos
ibex35 - SpainIbex35 has been able to sustain its position around the support area and should be really for an upside Rally in the coming days/weeks all the way to the top from where it all started. Yes, It will take at least a month for this trade to complete so be patient with it.
IBEX 35 - MID-TERM OUTLOOKFor IBEX 35 we foresee a new low to the Long-Term Ascending trend-line which could be tested again before to start to climb again.
Spanish politicians reduce yield % of IBEX 35BME:IBC FX:ESP35 BME:IBC
Fear, unconfidence, uncertainly and anothers negative sentiment have come back?
Since 2016 we seeing a negative spread between Spanish index #Ibex35 and another European indexes like DY1! #Dax30 FX1! #EuroStoxx50 FY1! #Stoxx600
December 21st, 2015 starts the negative performance of the index (Starts RED BASELINE on daily chart), one day after the mixed results in that first elections.
Almost one year to elect a Mariano Rajoy as a president after many elections and hours to discuss to "nowhere" in parlament congress, finally October 29th 2016, Rajoy got the votes to have investiture.
On 14 June 2017, FIRST motion of no confidence in the government of Mariano Rajoy requested by Podemos after a string of corruption scandals, was defeated 170 to 82, with PSOE abstention.
Then came the Catalunian crisis on second semester of 2017 and STILL continues, with many former funtionaries in jail, anothers in exile like Carles Puigdemont former Catalunian's president of Generalitat.
Finally on 25 may 2018, SECOND motion of no confidence requested by main oppositions party (PSOE)... starts a new political crisis increasing the negative performance reaching maximun levels again...
Adittionaly, context may not help= Italy case, bonds, ECB politics, debt, euro weak...
www.bloomberg.com
www.bloomberg.com
Trend UnchangedThe trend is still downward directed. I consider the recent rise as an upward correction and expect another decline soon.
High MomentumWith this rising momentum the Spanish matket is in line with the global rise. I see some mor space until the top.
IBEX 35. Espanol / SPAIN Spain Index sitting at resistance level and trying to breakout by forming a bullish candle. We will see in time if its a fake bullish engulf candle or a real body breakout . A clear breakout will determine whether it is set up close the gaps formed above or will it fall back .
Positive expectations in European markets #Ibex35 Spanish indexBME:IBC FX:ESP35 TVC:IBEX35
After the worries of Wall Street subside, the technical analysis tells us that we have entered an area far from the minimum of the year and waiting to rise slowly as it goes overcoming resistances.
1) Above the downtrend line (yellow), still remains 4 interesting resistances: 50 EMA, 100 EMA, 38.2% fibonacci (9826) and the week's maximun (9806)
2) American futures indices $SPX $YM $NQ DJ:DJUS broke out thru the falling triangle today but still waiting to see the close. European markets are affected by American futures positive & negative about #TradeWar, #ColdWar, #Tariff
3) Volatility is low now but you know what happenned with bad news #Trump #Tariffs #TradeWar #ColdWar
Excellent opportunity to consider these markets also:
XETR:DAX INDEX:CAC INDEX:MOY0 FY1! SX5E
Careful to be too optimistic there are doubts about issues: Trump, geopolitical risk, Syria, Russia, Cold War.
Big picture:
IBEX 35 - Market to invest in the short term BME:IBC
European markets doing very well, one of them is the SPANISH market with FX:ESP35 IBEX 35 having a beautiful return.
It stands out as an alternative market, with an index full of traditional companies ( CA , ITX , REP , SAN , TEL )and lacking in technological companies, nor metals, nor tariffs, it does not seem that TRUMP can ruin the image of the beaches of Ibiza or the exquisite Spanish chorizo.
With a sustained growth in its economy and positive results in its companies and without forgetting that political stability has returned once the proposal of Catalan independence movement has been annulled.
Correction NeededWe were not able to close the window to the upside. That's why there shall be a correction of this attempt now.
