IBEX - Spain - On cliff for a dive

FX:ESP35   IBEX 35 Index

The European QE is pending - It is largely in the media for a long while now.

I doubt equities would be trading where they are if they expected something great to come (this is speculative, i acknowledge).

IBEX is on a cliff that rejected up twice in weekly close...

The third attempt down may break the elastic this time and there is 25% free fall zone.

In any case: very pivotal supported zone that shall launch something rather soon.

My view: down.

Short 10% stop 11000... TP 8000.


Yeah Man
+1 Reply
YaKa jangseohee
nice one.
-1 Reply
the best part, ours converge!
Other way to look at it.
YaKa YaKa
on this last chart, if thing turn bad, we cold see the same bottom in 2/4 yrears than we had in 2002... a proper lost decade.
the spanish economy is fading gradually
YaKa jangseohee
which metric do you look at?
-1 Reply
your downtrend channel if it is valid
YaKa jangseohee
so to be correct: the price is fading.. that is a fact so far... as for the economy: we need to check the real gdp figures, the employment, the credit etc...
the price does not necessarily tell you the economy and vice versa..
There won't be a European QE as long as Germany is in the EU.
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