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.
the end of the MAssiVe rising wedge ends at 2800!!!
so my lower trendline should be elevated to incorporated the third touch?
You may be right, but this type of anonymous comments are not helping and going back to the subject, there has been so much noise that I THINK they will do something... something that the market over anticipated and will disappoint...
Doing nothing here would make Draghi lose credibility... Maybe they pushed in that corner, giving him enough confidence to get out and speak... That would make Germans more Machiavelli than italians themselves... possible.
the price does not necessarily tell you the economy and vice versa..