Macro Monday 27
Headwinds for Europe but Spain demonstrating relative strength
As it is New Years Eve I wanted to do an early release for tomorrow.
This week we are taking a look at another major market Index in Europe and we will also look at one smaller market within this geographical location, Spain, due to its strong chart set up and promising economic...
Stock 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,...
So... 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...
Industrial production fell 1.8% in March on month, the sharpest fall since May 2021, data from the country's statistics office INE showed Friday. In February, output increased by 0.9%.
On an annual basis, industrial production rose by a marginal 0.1% in March, the data showed.
The Spanish economy, the eurozone's fourth largest, expanded 0.3% in the first quarter...
CAPITALCOM:SP35
We are just taking a look at the IBEX 35 and not planning on opening up any positions. This trade is a bit too complicated, and there are no clear signals (because there are too many almost) to indicate which way the price wants to go.
A downward trendline from May 2017 connects a peak in February 2020. Technically from this, we can gather that...
With a yearly dividend yield of 6.6%, it is at the current moment one of the bests in the Spanish stock exchange. Moreover, from the technical analysis perspective, we have a strong support level on the daily chart (19.47 from last candle) and on the weekly chart (17.71). We have in our HT 200 portfolio for the long term and so far we have +10.70% + dividends....
Here at Human Traders we've analyzing closely the IBEX 35. Remember, this one does not include dividends as the DAX 40 does. The IBEX 35 will test again the MEGA resistance level, next top on 9066 points. If the resistance level is broken out, the next stop will be on 11400, and then, there will be no limit at all. We are long on this one as the general outlook of...
The wave you see in the future price on the chart is a schematic of a possible price trend and will not be formed just to clarify the possible price movement.
This is a personal analysis and should not be considered a criterion for buying or selling. Please pay attention the Take profit and Stop loss
ESP35 or IBEX35 chart is a classic 'Go Short' example.
We like to hedge (Buy the strongest/ go Short on the weakest) and this one in particular is (still) the definition of the second category:
-The European Commission lowered its forecast for Spanish growth this year as the country's recovery from the COVID-19 pandemic lagged behind other European...
a reverse H&S is forming on ibex35(now36)
the proyection of the pattern would theoreticaly bring it to 9600ish..let's see..
by a fundamental point of view it should be no problem for it to reach the target, since EU looks like wont let the QE any time soon
solid chemicals company, on a weekly tf is forming a cup and handle, but for now better look at lower tf.
ibex35 looks fighting with the 9000pts resistance zone, but i have no doubt it will surpass it due to EU not easing QE, this might drag up with it this shit.
technicaly formed a reverse H&S, had a false break thru, quite big one, but spanish stocks are quite a...
Monthly timeframe draws a macro descending resistance going back to 2007. This line has meant a significant bounce each time price touched it.
This time the resistance is coliving with monthly ema 200 which brings me to expect another bounce although this time it might not be significant. Price is moving upwards inside an ascending paralel channel for few weeks...
Some regions of Spain have hardened anti-covid19 measures in order to stop (not even reduce) the contagion. For example, Catalonia's new measures are municipal confinement from the 7th to 17th January, with shopping malls and gyms closed. However, EURUSD getting higher might seduce investors to invest in Spain, a strongly punished market since March 2019.
From a...
The market shows the intention to test the main VPOC (since 1998) that has been a support until march 2020.
I have the slant that market will reject that support so my position will be closed at that price level (~8700€)
