16th, Daily Report

The session is expected to be slightly bearish due to a misbehavior of the financial system in addition to the Eurostoxx options expiration tomorrow. The Japanese data could positively influence the market but it seems that it's going backwards, although good data could also raise the doubts about the continuation of expansionary monetary policy behavior and encourage the exchanges because it means that governments will continue injecting liquidity. Yesterday, the improve of funding levels encouraged the shares but today it seems that it could correct along this morning even if there are no bad news, and if the U.S. housing market has good data it could improve throughout the rest of the session.

The U.S. market ended upwards in all its main markets dragged by poor confidence data generated by the continuation of the Fed's expansionary policies. In the NASDAQ gains were limited by Apple drop the worst being selective with a rise of 0.2% only. The better the SP rising 0.5% and Dow with a rebound of 0.4%. These behaviors make it clear that the market still needs the FED inject liquidity and worries more about this than a simple macro market data.

The European session yesterday had a great performance, particularly encouraged by the financial markets and also by poor economic data in the eurozone involving a continuation of expansionary monetary policies. The best index was the IBEX with a rise of 1.3%, followed by the MIB with 1%. The worst was the FTSE 100 with a rise of 0.1% only. This aspect is mainly due to the drag of poor central European economic data. Even so, rose. For the opening session today it could hold a slight decline and then bounce.

In Asia, the Japanese GDP data has been very positive but outweighed by the fear of financial stagnation and the NIKKEI receded 1.3%. Even so, good GDP data makes it clear that Abe Japanese policies are stimulating the economy and getting their goal.

For today's session I expect a slightly bearish opening, which could bounce back after U.S. housing data. For the medium and long term I continue with a view of an upward trend.

INDICES:

S&P 500

The U.S. index is still in its highs and in free rise. Yesterday it reached the target channel that I had previously submitted. However, the MACD showing the strength of the market, and the price well above the average of 14 sessions aggressive, I can say without hesitation that the index remains bullish.

Dax 30

After the publication of data growth, the index continues its upward climb. With an average of 50 sessions in positive slope, giving significant levels MACD bullish market strength and volatility of close quite low, we still see the DAX to not break long while 38.2% of the current uptrend.

Ibex 35

Lateral movement in the IBEX, waiting for important news and macro data. The Spanish index is in clear resistance levels. Price beating up the average of 14 sessions, with the average of 50 positive trend with minimal volatility, which tells us that there may be strong in the short term movements. We monitor plus key 8332 level.