IBEX 35 loosing momentum

14 ביוני

Loosing bullish momentum, RSI crossing its 9 week MA to the downside, overlapping waves and on the upper side of the Bollinger and YTD AVWAP bands.
If 10800 level is lost, we could see a very bearish development (lower highs and lows, downside momentum accelerating, middle term trend lines being traspásese, etc.) with a PT around the 9800/9600 area

14 ביוני

הערה

Ibex 35, Spanish stock index, seems that is breaking the higher end of a rising wedge, inside a very long term correction from the 2007 highs (at 16.000). Notice the rising pattern, with a big risk to the downside.
Ibex is very skewed towards the financial stocks (banks and mutual funds), which have been largely benefiting from high interest rates in the eurozone. Huge tail risk if a real estate bubble should burst, as middle class spaniards are struggling with high CPI, decreasing median personal income, and an aging population.

15 ביולי

הערה

Holding in a tight range, 10.800/11.200
Head and shoulders on the making?

1 באוג׳

הערה

still sideways, but with the other european indexes falling heavilly we might see in the short term the 9800/9600 area