9th, Daily Report

The stock market is expected to continue bullish, but today it will be influenced by the unemployment data of the U.S. which is expected to improve slightly in the long term but not in the weekly. Asian data are mixed this morning. On the one hand, worst producer prices in China that may slow the growth, but on the other, Korea have lowered interest rates which may encourage the market. Even so, I still think that this session will be slightly bullish with a consolidation of certain levels.

The U.S. stock exchange continues with new highs by both the SP and the DOW session after session. The observed overbought may create doubts about how long it will last, but a market as involved as the american should not generate so many doubts. The technology sector was the best, thanks to Apple, which dragged the NASDAQ with a half-point rise. DOW and SP also rose although in this case only 0.3% and 0.4%. The unemployment data today may help to continue with the top or it can stop the euphoria.

The session in Europe continued yesterday with the effect of lower interest rates, and rumors about a possible purchase of assets by the ECB attached to the positive corporate earnings and macro data, especially in Germany. These aspects generated that the DAX and the CAC were the best indexes in Europe with increases of 0.8% and 0.9%. On the other hand, peripherals, with a good Greek auction that caused a great attraction for the risk that made the Italian and Spanish shares continue green. In addition, the bonds have a good behavior (which I hope to continue with today's auction).

In Asia, the bad data in China dragged the Nikkei, although the lower interest rates in Korea limited the losses. Finally, the Japanese index lost only 0.2%.

For this session I continue with a view to a slightly bullish market, at least until the data of U.S. unemployment. For the medium and long term I expect increases, especially in the European market.



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

Staying in highs area, I will wait to see the evolution of the market, and if it finally consolidates that level on Friday, I could see an scenario quite optimal for being bearish next week. It is always important to not miss the 50-day average. The oscillators do not differ with the price.

Ibex 35

The Ibex 35 continues showing strenght at above the daily average of 50 sessions to use as support for this time range. Timid profit taking at the opening today, still away from yearly highs but I believe they may be visited in the short-medium term.