📌 An update to the map for French Equities
By now we should have all positioned our portfolios defensively and be sure that in doing so by covering we are ensuring that our opponent will not try a steam roller!
Think back to the diagram and follow the flows....
We have a typical position...
Elliott Wave view in IBEX suggests the decline to 6552.17 ended wave (1). Wave (2) rally is currently in progress as a zigzag Elliott Wave structure to correct the decline from June 8, 2020 high. Up from wave (1) at 6552.17, wave ((i)) ended at 6797.60 and pullback in wave ((ii)) ended at 6639.80. Index then resumed higher in wave ((iii)) which subdivided into...
📌 Another example of the erroneous breakdown, a very similar position to DAX, CAC, FTSEMIB and STOXX. We can see how clearly the virus is leading the equity board, as Spain were the first to enter back into the second wave the prevention of a freeing breakup is being made possible via the important loss of diagonal support.
"Sell weakness, and even more when...
📌 Eurostoxx 50 is in question here and we have a good illustration of the ABC outpost. The main target 3,489 is still open for a test but a breakdown here will seal it for the year.
In a nutshell, this is a chart speculating that we are in the very early days of the "C" leg down.
It is the same opening move in play for German Equities, DAX:
Im already short in its etf EWP.
I think that the most probably scenario for this triangle break is downwards, since there will be a second economy bomb (aka covid confination) and there is no way the economy is recovering soon.
This is a review on a monthly view of the main banks in Spain.
We are not going to make any more comments than to limit ourselves to paste the charts, just to say that they are inside a big shit. In which one would you put your savings?
Greetings and God bless us.
After a multi-million dollar bailout, the bank is back at record lows.
Will it hold the pressure? There is still room in that RSI for a bit more correction. Bleh!
This is a continuation of our previous ideas...
Rodrigo de Rato tret al clatell!
On the 60 minute chart, price is obeying the blue dotted transagonal support & resistance contracted channel.
As price hits the (daily) orange (transagonal resistance), we should see a correction leading to a move to the downside to the lower (daily) orange transagonal (support) line at approx to 7015.1 to 6930.7.
*Black lines = daily S/R
The amount of speculation that steers this as "bullish" honestly doesn't make sense to me. For this reason, my outlook on the current global economic cycle will be in alignment with shorting DAX and the IBEX.
IBEX shows an incomplete sequence from November 2007 high and still favors more downside while below 2.19.2020 high (10093). Near term, the Index ended the rally from 3.16.2020 low in 3 swing as a zigzag Elliott Wave structure. Up from 3.16.2020 low, wave (A) ended at 7209.7, wave (B) ended at 6421.4, and wave (C) ended at 7995.3. The 3 waves move higher from...
IBEX35 is tracing the final stages of intermediate wave 2. The most probable target range is between 7,800 and 8,450. After this intermediate wave 3 should bring down the index to new lows. If the index crosses down 6,850 the odds will indicate wave 3 has already began. FOLLOW SKYLINEPRO TO GET UPDATES.