The fear that the US stock markets will end up giving way to the supports that sustain the bullish mood on Wall Street, is favoring in recent hours that investors and analysts are now more aware of the supports that must be monitored in the reference indices in Europe that of the resistance they had approached in recent days.
“Where the boss rules, the sailor doesn’t rule“recalls Joan Cabrero, technical analyst and strategist of ecotraderso seeing how on the other side of the Atlantic “key supports are being lost, which suggest the possibility of a more corrective than consolidative process, I do not rule out that the Ibex 35 could go again to seek support for the guideline bullish trend that has been guiding the advances since October 2022”.
The last time this guideline was reached was when since ecotrader An alert was sent recommending buying a Spanish stock market, recalls Cabrero. “Now I would wait for him to return again to the same area, which appears in the 11,300 traditional Ibex 35 pointsbefore considering buying again if the correlation environment advised it, only at that level would I consider buying the Spanish stock market attractive again with a medium-term orientation,” he highlights. while warning that the transfer of that level, yes, , would imply a fall of 10%, with a target at the August lows of 10,300 points.
In Europe, from an operational point of view, critical support is found in the 4,800 and above all the 4,688 points of the EuroStoxx 50, corresponding to the minimums of last December and November. “To buy I would wait for approaches to those minimums and I continue to insist that there is no reason to reduce exposure to the European stock market as long as the selective does not lose those levels,” says Cabrero.
In the case of the European reference, not only the approach to supports seen on Wall Street has an influence, but also the fact that in recent weeks it has failed in the short term in its attempt to beat the bearish trend that has been guiding the consolidation process that develops during the last nine months and runs through the 5,050 pointssomething that invites us to monitor the December and November minimums more vehemently.
Trump tariffs pending
This Tuesday’s stock market session has been positively influenced in Asia by the information that suggests that The implementation of tariffs and tariffs by the US on Chinese and regional products could be carried out gradually. The rumors have brought a breath of optimism to the market as an execution of Donald Tump’s tariff plan in this way could ease inflation concerns and push back high Treasury yields as the Federal Reserve gains room to reduce rates. interest rates.
The Chinese stock markets registered increases of more than 1% on the day and lead the advances of the indices in a region in which the Japanese stock markets have set a discordant note, registering declines of more than one percentage point, in the midst of a wave of sales of global debt. The statements of the Deputy Governor of the Central Bank of Japan (BOJ), Ryozo Himino, pointing out that There is a possibility that an increase in interest rates will be discussed at the next monetary policy meeting of the Japanese central entity – next week. It has been the trigger that has moved investors and analysts in the country in recent hours.
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