Ibex 35 abandoning bullish channel from 01/01/2019

29 may 2019

Trade war tensions made the markets tumble this Wednesday. Ibex 35, which is gaining volume (Cumulative Volume Indicator CVI was used) every week, has abandoned bullish channel started at the beginning of 2019 and continues its downward trend started back in May 2017. From a long term point of view, the end of this week will be critical to establish a correct position on it, either bullish if it gets back in the bullish channel or bearish, if it gets further away. One thing is for sure, from a short-term point of view the "Sell in May" prophecy period is also ending this week as May ends and the index could experience a bullish reversal the first days of June that won't last for long. All in all, long-term is bearish and short-term might come with some volatility surprises.

18 jun 2019

Nota

Ibex 35 at 13h (SPAIN) passes from ~9065 to 9180. Volatility of markets can be sensed due to this Freaky Friday approaching with its triple witching hour and tomorrow's Fed decision about interest rates already discounted? The end of this week will confirm my predictions or not about Ibex 35 going to 9011. Afterwards, either 9000 is a psychological resistance and Ibex 35 goes back up again or it goes further down this time to 8860, another psychological historical resistance.