8th, Daily Report

The market continues bullish and today is not expected to be an exception due to good data on exports and imports in the early morning in China. The central banks effect continues and it gives some comfort to the market and encourages increases.

The U.S. stock exchange was slightly mixed yesterday, with a technological fall: Apple went down 2.5%. But a market as monetarily as the American stepped on with the ups. The Dow and SP were stained green by 0.6% and 0.5% respectively thanks mainly to Caterpillar and JPMorgan. The fall of the NASDAQ that I discussed previously was only 0.1%.

The session in Europe was marked by the continuation of the ECB effect, with its cut of interest rates. It continued bullish due to positive macroeconomic data in Germany, which prompted the psychological break of bearing zones (IBEX broke 8500). The best performing was the MIB with a rise of 1.5% (supported with an improvement of the debt spread with both Germany and Spain). The worst was CAC with only 0.4% rebound.

In Asia, Chinese news has been very positive. The improvement in exports and imports exceeding the expected data is the first cause of confidence. Yet long known that Chinese data are not entirely reliable. Anyway, the market goes up by 0.5% and the Nikkei is also maintained in green with a rise of 0.9% (37.7% accumulated in the year).

For this session I expect a bullish behaviour of the market, with the support of the monetary policies of major central banks. For the medium and long term, I remain confident that the shares will continue rising.

INDICES:


S&P 500

After another visit to highs yesterday, the American index seems to be unstoppable. The average of 50 sessions is almost parallel to the asset price, which does not lead me to think that the sector can develop important corrections. RSI neutral.

Dax 30

The target of 8190 has been finally achieved. Almost eleven candles consecutive white (discard the collection of benefits of Monday) that support the German index. But now it's time to be on the lookout for what happens in the coming days, and on Friday finally check if it consolidates this level.

Ibex 35

The publication of results seems to be pleasing the index. The IBEX stays away from the bullish trend since July 2012, but it continues showing strenght, above the daily average of 50 sessions to use as support for this time range. It is still at some distance from yearly highs, but I think that they may be visited in the short-medium term.