The opportunity to buy that the Spanish stock market offers before the end of the year

Since at the beginning of the month the Ibex 35 managed to set its highs of the year (and of the last 15 years), the Spanish selective is trading in a consolidative range that has favored the last sessions of the selective to mark levels that represent correcting 50% of its last upward stretch that took it from the 11,300 to 12,150 points.

Now, in fact, the Spanish index is trading close to the support represented by the 11,700/11,725 ​​pointswhose drilling would be “a short-term bearish signal that would put on the table the possibility that the falls will continue to deepen and will seek support for the bullish trend that has been guiding the rises since October 2022, which is currently running through the area of the 11,300 points“explains Joan Cabrero, technical analyst and strategist of ecotrader.

“If it ends up following that guideline, we would a priori be faced with an opportunity to buy the Spanish stock market with stop at the November lows of the Ibex with dividends at 39,300 pointswhich is where the support is today that should not be lost if we want to continue trusting in a bullish context in the short / medium term“, explains the expert operationally.

In the case of the EuroStoxx 50, it is also the November lows that need to be watched. “Specifically the 4,688 points of the continental selective”, pointed out the Ecotrader expert in his weekly strategic commentary, while highlighting that just two weeks ago we were stuck to that support, but now it is 6% below.

The closer the European stock market gets to that level, the more attractive the risk-return equation will be, and it will help all the pieces fit together. And this consolidation in the Old Continent could coincide with “a correction that takes the North American indices to levels where they were trading just before Donald Trump’s electoral victory”, providing an optimal entry route for when global stock markets rise. in 2025, which is the technically most likely scenario.

A Nasdaq up an additional 8%?

In this sense, for the next correction of the North American market, towards that Trump gap, to be similar in proportions to that seen last August, the Nasdaq 100 would have to previously have an additional upward journey of 8%.

“It would be a real disrespect that would lead the main technological reference to rise to 23,500-24,000 pointsand from there I would not be surprised if the Nasdaq 100 headed to seek to fill the bullish gap opened after Donald Trump’s electoral victory,” says Cabrero.

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