YaKa
Short

IBEX - Spain - On cliff for a dive

FX:ESP35   IBEX 35 index of Spanish listed shares
229 20 1

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.

ChartArt
2 years ago
There won't be a European QE as long as Germany is in the EU.
Reply
jangseohee ChartArt
2 years ago
No QE from Draghi means stock market will be crashing..
Reply
ChartArt jangseohee
2 years ago
Finally. A healthy reset is long overdue. Japan is the best example why QE doesn't work, if you are not the dominating country in the world.
+3 Reply
jangseohee ChartArt
2 years ago
Well, Overdue SPX and gangs are still grinding higher though
Reply
ChartArt jangseohee
2 years ago
These gangs are grinding higher in a massive rising wedge.
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YaKa PRO ChartArt
2 years ago
Question: what is a gang?
-1 Reply
jangseohee YaKa
2 years ago
SPX, DJTA, DJIA, RUT, COMPQ...(the entire gang)
Reply
jangseohee ChartArt
2 years ago
as long as the "Print Money" button is there, Fed will keep using it until finally (time unknown) it fails :-)
the end of the MAssiVe rising wedge ends at 2800!!!
snapshot
+1 Reply
WallStScalper PRO jangseohee
2 years ago
Im sorry to disagree with your chart or rather your lower trendline. It needs to have at least 3 touches to be valid and price never go to the apex of the wedge ... it will break down much before.
+1 Reply
jangseohee WallStScalper
2 years ago
Hi Lawrence, nice to learn from you
so my lower trendline should be elevated to incorporated the third touch?
snapshot
+1 Reply
YaKa PRO ChartArt
2 years ago
says who? it would help you to use words such as: i think/ I dont think.
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.
+1 Reply
jangseohee
2 years ago
Yeah Man
Spain index doesn
+1 Reply
YaKa PRO jangseohee
2 years ago
nice one.
-1 Reply
jangseohee YaKa
2 years ago
the best part, ours converge!
Reply
YaKa PRO
2 years ago
Other way to look at it.
snapshot
Reply
YaKa PRO YaKa
2 years ago
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.
Reply
jangseohee YaKa
2 years ago
the spanish economy is fading gradually
Reply
YaKa PRO jangseohee
2 years ago
which metric do you look at?
-1 Reply
jangseohee YaKa
2 years ago
your downtrend channel if it is valid
Reply
YaKa PRO jangseohee
2 years ago
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..
Reply
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