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Spain 35SS

Spain 35

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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
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by ActivTrades
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.
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by Elliottwave-Forecast
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.
SLong
by Skilling
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.
SShort
by Hvalp
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.
TShort
by UnknownUnicorn27566687
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.
FShort
by Signal_Centre
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.
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by Elliottwave-Forecast
ESP35:IBEX DOWNTREND | NEW SHORT TRADE TRIGGER | SHORT 📉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 over the preceding quarter, as the spread of the Covid-19 Omicron variant in early 2022 weighed on the services sector. However, the economy is expected to pick up pace in the second quarter as a rebound in services activity will likely offset a subdued performance of the factory sector, Pantheon Macroeconomics' senior Europe economist Melanie Debono said in a research note.
FShort
by INDEX_INSIDERS
Elliott Wave View: IBEX Has Resumed DownsideShort Term Elliott Wave View in IBEX suggests the decline from November 1, 2021 peak is unfolding as a 5 waves diagonal. Down from November 1, 2021 peak, wave (1) ended at 8082.4 and rally in wave (2) ended at 8912.20. The Index resumes lower in wave (3) which ended at 8048. The 1 hour chart below shows that move in wave (3) which subdivides in another 5 waves in smaller degree. Down from wave (2), wave 1 ended at 8266.9 and wave 2 ended at 8607.10. Wave 3 ended at 8061.2, wave 4 rally ended at 8254.10, and wave 5 lower ended at 8048.30 which completed wave (3). Bounce in wave (4) ended at 8509.90 with internal subdivision as a zigzag. Up from wave (3), wave A ended at 8496.4, wave B ended at 8288.8, and wave C ended at 8510.61. Index has extended lower in wave (5). Down from wave (4), wave ((i)) ended at 8076.40 and rally in wave ((ii)) ended at 8370.80. Near term as far as pivot at 8510.61 stays intact, expect rally to fail in the sequence of 3, 7, or 11 swing for further downside. n of wave w which comes at 3629 – 3998.
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by Elliottwave-Forecast
Waiting On The IBEX 35 (SP35) – Indices – Daily 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 IBEX is still technically in a downtrend. Even though it has dropped in price and climbed to its current position, it still has not crossed our “main” downward trendline signaling an uptrend. There are quite a few patterns to consider in this example. We have a wedge squeezing price along with two symmetrical triangles. The grey support line indicates a hard support level which is also supported by a round number (SAR round number). Additionally, the valleys are supported by high volume, and when this is the case, you can be assured price will probably come to a halt there. Along with the downward resistance line running across the double top, that support line forms a tightening flag. If we have to consider these patterns, we can take into consideration that a partial decline has taken place, and it has retraced to the 50% level of the Fibonacci Retracement level. We can also see a level of HCR (Horizontal Consolidation Region) at the level of support. There is a channel to the left and above, close to the second part of the double top. Both these areas are areas that could halt price movement, but they are so close to the price already that they might not cause any problems. In terms of the small symmetrical triangle, we can see that the price has reached its apex and some form of a break is imminent. However, if we look at the larger symmetrical triangle, we can see that the price still has room to move before we can come to any conclusion. If we had to assume that IBEX #% was currently in an uptrend due to the fact that it has been moving up since October 2020, we could see that two trend lines cut through price. One creates the larger symmetrical triangle while the other is used to evaluate if a downtrend has begun again. By using the 1-2-3 change method, we can see that IBEX 35 is headed in a downtrend but has not closed at the 3 mark, which is the price of 8060. Although, the double top was confirmed with the HCR. I would not personally enter any position here until I see where the price is going to go. In order to go short, I would wait for the price to move and close below the two support lines and at the 3 mark. For a long position, I would actually wait until it crossed the massively long downward trendline that is still a level of resistance. You can see this because it reversed when the price tried to reach it twice (the double top). The price would have to close at around 9368 for me to consider a position trading opportunity for a long position. Hence for the moment, we’ll just sit and wait to see what IBEX 35 is going to do.
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by DevlonJarrodHorne