IBEX Spain Index

Hi Everybody,

In this trade we are going to talk about just the IBEX, any other comment or chart about other instrument will be erased.

Regards.

The IBEX ended a ABC correcction. Now I expect that the market pulls back before go lower again. As alt count in red we need to wait some more structures to determine if the IBEX would be another high.

how you see in the chart we are in a kind of wave b, this wave b could be another low or not before go higher, that move is
questionable

IBEX was a great proxy for market direction the past several years until the short sale ban went into effect....is that still in place, Luis?

also, very surprised to see such tepid selling last night off the poor China prints........

Hi roro, yes it is a good proxy cause as Spain has a lot of problems of unemployment, the first in react about something wrong is IBEX so it is a good advance indicator. About China, this hurts in some degree the whole, but it is not USA, so IBEX fine. China hurts more oil, and gold and how you know the countries near to like Japan, AUS and NZD.

IBEX made a new low as expected, but we can deny another before the rally. Now I focus in 2 areas to complete rally even 8221 - 8178 or 8400 - 8348.

Hi Luis,
good initiative to start this thread!

hopefully i don't offend you, but what's the demo record on your profile?
do you trade IBEX actively or just chart it anyway?

good luck!

hello luis.

what in ur view is the best price to long Ibex? I've been watching it for a while and hoping for a drop till 7400-7600 Area before i long my position.
but it seems to have a strong resistance in that 7700 level mark. and if i should long my position at current level where do you think i should put my stop-loss?


Regards

Shax