IBEX35 Possible Downward TurnEurope's stock markets have extended initial gains at the start of the session and have recovered around 1% from the previous day. The British FTSE100 is back to its historical highs, while the EURoStoxx 50 is once again pushing towards 5,000 points, with SAP being the company that has published the best results report, climbing close to +4%. The Dutch company Prosus also stood out with +3.8% and Philips +2.5%.
The IBEX 35 started yesterday with a strong start and today has continued to climb one and a half percentage points after concluding the third best day of the index so far this year. It is in the 11,000-point zone, with a record high of 11,110.28 points. Last week it returned to a low of 10,497.21 points, but on the 17th it began to climb back to the highs. And at the moment companies that were put into question such as Grifols stand out as the most bullish component (+5.3%) within the index, after announcing a successful award of corporate bonds valued at 1,000 million euros. It is followed by Banco Sabadell (+2.1%) at the top while companies such as AcelorMittal (-1.6%) stand out for their poor results, followed by Unicaja (-1%), Enagas has also reported its accounts and is down today despite beating its profit forecasts.
PMI news from several European countries including the Eurozone and the UK are due today. And in the afternoon US PMI, Exports, Services and Manufacturing from the FED, as well as new home sales, which in the US have a high impact.
Regarding the IBEX 35 in the technical aspect, as we said, the index has been recovering its price. At this moment, it is with a very oversold RSI, so it is quite predictable a turn to the mean, which coincides in the strongest trading zone with a POC of 10,078 points approximately marking the bell to a low zone, so we do not know if this positive data will be enough to keep the Iberian index on its way up or there will be a strong correction and a test at 10,497.21.
If we look at the DAX40, while it is true that as the indices have been presented to the upside this drag has pulled the IBEX35, and the candlestick figures seem quite correlated since the 18th. So there may be a partial replica in both and it is likely that its technical representation is similar and is associated with German production data since Spain has among its main customers Germany in its trade balance, and this could be a reason for so much euphoria in the IBEX.
Ion Jauregui - AT Analyst
*******************************************************************************************
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
ESP35 trade ideas
SPAIN35CFD is making trend reversal.It shows clear divergence which hints toward trend reversal.
Then chart pattern shows complete inverse head and shoulder pattern and price had already crossed neckline so we can take instant entry by making previous HL as our stop loss and can project its target price.
Inflation Deflator Indicator Signals Sell for $SPA35ID has printed a 30m sell signal. The price has retraced to sell signal candle and supply zone formed at this price. We should get a hard rejection off this area to the previous swing low/demand zone (red box).
IBEX35 : BULLISH BREAKOUT?- The Madrid stock market has registered a strong rallye since the end of November 2023, the medium-term trend is therefore bullish.
- More recently, the market has consolidated in a symmetrical triangle chart pattern, between December and today.
Today, the market continues its acceleration with an attempt to clear the upper bound of its symmetrical triangle.
The two long moving averages at 55 and 89 periods remain bullish, even showing an acceleration of the rise in the very short term.
The Stochastic indicator also appears to be confirming the market's bullish clearing, breaking its bullish trendline and entering the overbought zone.
- Although today's crossing is still awaiting validation by the daily close, this is seen as a bullish situation for the Spanish index.
Indeed, the triangle pattern generally plays a trend continuation role, and technical indicators also seem to confirm this hypothesis.
If this scenario is verified today or in the coming trading sessions, with a close above 10,130.0pts (Fibonacci projection at 23.6%), then new targets towards 10,345.0pts, 10,515.0pts then 10,685.0pts would be possible in the short-medium term.
Pierre Veyret, Technical Analyst for ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Spanish Index Resuming UptrendSpanish top 35 index is clearly breaking out to the upside.
Its broken out of the flag pattern weekly and retest will be a buying opportunity.
SPA35 @ RESISTANCE SPA 35 seems is approaching a resistance level dating back to March '23. Adding to that the 4h RSI is oversold. Sell?
IBEX35 bullish long term triangle retestFor some reason Spanish markets are going to blow our minds, maybe besides rest of main markets
IBEX35 AFTER BRICS NEW MONEYI have studied this on a monthly time frame along with monitoring the news closely. I've noticed that it has been building a bullish flag pattern since it began. We hadn't had any new lower lows on the Monthly time frame and we just left a resistance level after retesting it three times! Combine that with BRICS new currency and the annoucing of it being this week this could only mean 1 thing! Go long on IBEX35!
Spanish bulls will soarThis clear inverse cumulative delta divergence in the daily chart of the IBEX suggests significant price increases in the Spanish leading index.
We place the stop loss conservatively and choose the structure of the end of 2017 as the target for our long position.
European shares dipped shortly after the opening bell on MondayEUROPEAN SHARES
European shares dipped shortly after the opening bell on Monday, extending declines seen in Asia overnight, while US futures also point to a bearish open as the banking crisis keeps pressuring market sentiment.
Financial stocks remain the worst performers so far, as worries of a systemic risk in the banking sector linger after the confirmed takeover of Credit Suisse by UBS failed to bring back confidence. Investors are sending benchmarks towards major support levels, limiting their exposure to riskier assets as they still struggle to assess the situation on Financials, ahead of another busy week where the Federal Reserve is expected to decide on rates as well as provide more clues on how monetary policy will be impacted by the recent turmoil.
We expect volatile market conditions this week as traders wait for another batch of major macro data alongside speeches and decisions from central bank officials such as the ECB, the Fed, the SNB, the BoE as well as the EU leaders’ summit.
The Spanish stock index has registered the worst performance so far in Europe, as prices flirt with the 8,600.0pts level following a significant bearish gap at the open. With the 8,635.0pts level now broken, an extension of the current pull-back towards the 8,430.0pts / 8,360.0pts zone remains the most likely scenario.
Pierre Veyret– Technical analyst, ActivTrades
SPN35 DownSPN35 seems to show all short technical signal.
Similar move in US indices adding confidence to trade.
ESP35>>> SellHi hope you are all doing well
there is a good sell opportunity on ESP35
just remember to follow your own plan.
Short SP35 JsbT2U/
SP35 seems to be a bit weaker than other EU markets. Bearish divergence, out of fuel.
IBEX35 reversal predicted by Cosmic GravityCosmic Gravity predicts that the IBEX35 Spanish market index will reverse downwards based on 4 bearish vs 1 bullish signal over 2 timeframes. Stop loss is set at the top of the 1H chart resistance.
Elliott Wave View: IBEX Soon Reaching Resistance AreaIBEX shows an incomplete bearish sequence from 6.14.2021 high favoring further downside against 5.30.2022 high (8992.7). Short term, Index is now correcting cycle from 5.30.2022 high in 3, 7, or 11 swing before the decline resumes. Down from 5.30.2022 high, wave (W) ended at 7191.57 as the 1 hour chart below shows. Wave (X) rally is currently in progress to correct cycle from 5.30.2022 high with internal subdivision as a double three Elliott Wave structure.
Up from wave (W), wave ((a)) ended at 7502.9, pullback in wave ((b)) ended at 7371.70, and wave ((c)) higher ended at 7692.30 which completed wave W. Pullback in wave X ended at 7449.70 with internal subdivision as a zigzag structure. Down from wave W, wave ((a)) ended at 7530.50, wave ((b)) ended at 7660.40, and wave ((c)) lower ended at 7449.70. This completed wave X and now wave Y higher is in progress as a zigzag. Up from wave X, wave ((a)) ended at 7745.20, and wave ((b)) ended at 7675.30. Expect wave ((c)) of Y to complete at 7942 – 8249.50. This should complete wave (X) in higher degree and see Index resumes lower or pullback in 3 waves at least.
Strong very short-term upward momentum from the October 13th lowStock markets reverse downtrend and may have entered a “corrective” cycle
Upcoming economic events
Tuesday: US consumer confidence
Wednesday: Bank of Canada interest rate decision
Thursday: ECB interest rate decision
Friday: US personal income and consumption
Commentary:
IBEX 35 Index: Strong very short-term upward momentum from the October 13th low, current price 7,680 and faces resistance near 7,830, long positions can be technically supported provided price can hold above the 7,426 support which would intersect at a potential 40-degree tentative trend line, if trend line proves true new long positions can be supported near the 7,426 area with stops at 7,385.
forecasting SP35 SPAIN in dayli chart Hello to all investors, according to my previous studies and according to my experience as a trader, I see a good investment opportunity with a high probability of success, the details are reflected in the graph
Short Spain/Ibex 35So... the Spanish market has actually OUTPERFORMED all the other european indiced in the past year and actually YTD:
www.investing.com --> "Performance"
that makes no sense... a country/economy which were on the edge of bankrupcy in the last financial crisis.
Why has this economy outperformed all the other eonomies? it makes no sense .
IMO a short position for the rest of the year (if needed) should be in order.
As soon as the ECB raises the interest rates, just watch Spain (and Italy for that matter) it will go down and struggle like all the southern european countries has done for ages.
Nothing has changed - it will happen.
IBEX35 due for a large correction -20%The IBEX35 index, the blue-chip benchmark for the Madrid stock exchange, seems to be on the cusp of a large correction to the downside of about -20%<-25%. Technical indicators signal a consolidated drift lower, while the MACD also signal a broader Sell-Off move.
Concerns are for the undercapitalization of many listed companies, in particular, the Spanish banking sector could be of concern for the issuance of subordinated debt obligations, the debt/leverage on the bank's balance sheets could be of concern, as in fact, the equity part and the stock prices of IBEX35 listed BANK STOCKS have been constantly sliding lower, sign of a broader concern in the financial and banking industry about the Banking industry in Spain and its debt/leverage, while Banks as SANTANDER already would be under market liquidity pressure for the upcoming debt obligation due in 2023 and 2024.
IBEX Playing For A BreakdownIn this update we review the recent price action in the IBEX and identify the next high probability trading pattern and price objectives to target
Jamie Gun2Head - Buying ESP35Trade Idea: Selling ESP35
Reasoning: Big resistance
Entry Level: 8294
Take Profit Level: 8053
Stop Loss: 8366
Risk Reward Ratio 3.35:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Elliott Wave View: IBEX Has Resumed HigherShort Term Elliott Wave View in IBEX suggests rally from 3/7/2022 low is in progress as a 5 waves impulse. Up from 3/7 low, wave (1) ended at 8875.30. Wave (2) pullback has ended at 8137.37 with internal subdivision as a double three. Down from wave (1), wave ((a)) ended at 8512.3, rally in wave ((b)) ended at 8703.50, and third leg lower wave ((c)) ended at 8344.90 which also complete wave W. Wave X corrective rally ended at 8650.70 with internal subdivision as a zigzag structure. Final leg lower wave Y ended at 8137.37 with internal also as a zigzag structure.
Index has turned higher and broken above wave (1) at 8875.3 suggesting the next leg higher has started. Up from wave (2), wave (i) ended at 8383, wave (ii) ended at 8324.1, wave (iii) ended at 8488.90, wave (iv) ended at 8437.10 and wave (v) of ((i)) ended at 8546.30. Wave ((ii)) pullback has ended at 8342.20. Index has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 8598.40 and dips in wave (ii) ended at 8515.60. As far as pivot at 8137.37 low stays intact, expect Index to extend higher.
