30th, Daily Report

It seems clear that the fear persists. The stock markets (especially in Asia) show that the uncertainty of a reduction in aid from the Central Banks continues. The market crash is something that it seems clear that will occur in today's session, unless someone prevents it. This has slowed the upward trend and at least a part of the bubble has burst, but the support level of the NIKKEI, which coincides with the 38.2% Fibonacci, seems likely to slow this falling. The session can move from low to high according to U.S. macro data (PIB, weekly employment, housing presales, etc..) Although it is positive, it would continue with the fear of a possible termination of aid. Therefore, we will have to be careful.

In the U.S., the stock market continued the good news with doubts about a possible end of QE. So, yesterday the market contracted with a fall of its three major indices. DOW and SP fell 0.7% while the Nasdaq 0.6%. As a thing to note, the falling of Fannie Mae, which fell 28.9% with lots of volume.

Profit taking session in the European stock market with the perspectives presented by the OECD that brings back bad news for the Eurozone and in particular to the peripheral countries. Therefore, the declines were widespread. The worst performing was the ACC with a fall of 1.9%. At the other end of the scale, the IBEX, which fell by 0.8% although it carries a much greater fall in recent weeks, in fact, is the only major market in Europe leading a rise of less than 5% (only one 3.4%). The risk premium stood at 287 bp.

In Asia, the market moves with much more force. The crash yesterday was 5.15% in the NIKKEI and makes clear that the Asian market has many more doubts about the central bank, as it has suffered a drop of around 15% in recent sessions.

For today's session, I expect a behavior from low to high, but depending on the U.S. macro data that will be published. For the medium and long term, I continue expecting an improvement of the stock markets.



INDICES:


S&P 500

I seriously appreciate the ability to view back the index in weekly lows. With the U.S. data ahead, it's anticipated a fairly volatile day. With the average of 30 sessions already in a negative slope and the RSI showing laterality, we pay more attention to the lowest levels of the week, but we will be attentive to U.S. data before venturing to submit the new trend.

Dax 30


The index presents an interesting moment. After leaving the overbought levels, the corrections carried out in recent days have drawn a clear double top figure. This figure is only activated in case of drilling downwards the minimum between maximums, ie the 8267 points. Please note that in this case, it would be set a downside target in the area of 8000 points

Ibex 35

Bullish day for Ibex 35. The Spanish index opened today with a slightly upward gap, which was filled in after the opening minutes. The speed in closing the gap we usually give an upward bias to the value. With an average of 30 sessions in a clear positive slope, I see the Spanish stock market in this week's highs and lows of the past.