The stock market faces its last week of the year in the support zone

Without a clear direction. This is how the last week of the year will begin on the European stock markets, where futures anticipate a mixed tone at the opening of the session, when there are only six days left until the end of the year on the floor. After last week’s profit collection, there will be no major references for the market in the coming days.

From a technical point of view, “the falls in recent sessions have led the Ibex 35 to finally reach the bullish trend that has been guiding the rises since October 2022, which currently runs through the area of ​​11,150/11,300 pointsanalogous to the support of the 39,300 of the Ibex with Dividends”, explains Joan Cabrero, Ecotrader advisor.

“With the scope of this guideline we are faced with an opportunity to buy the Spanish stock market, hence on Friday they received an alert indicating this possibility,” continues the expert. “The stop for these purchases is located at the November minimum of the Ibex with Dividends at 39,300 points, which is where the key support is today that should not be lost if we want to continue trusting in a bullish context in the short/medium term “he continues. “Think that if the 11,150/11,300 of the Ibex and, above all, the 39,300 of the reference with dividends are lost, The threat would be a 10% drop towards the August lows of 10,300 points.and until then I would not be in favor of buying the Spanish stock market again,” he concludes.

The American bond at 4.5%

Once again, the fixed income market is straining investors’ portfolios by accumulating losses during its final weeks in a movement that can only be explained by the tone hawkish that the Fed has shown despite the fact that at last week’s meeting it did cut rates by 25 points. That led the 10-year American bond to once again exceed the 4.5% return required in secondary.

However, he might have been too pessimistic about inflation considering that the latest data on the GDP deflator, one of the indicators most closely monitored by the Fed, is growing at a rapid rate. its lowest pace since May, 0.1% in its monthly underlying, less than what the market expected last Friday.

WhatsAppTwitterLinkedinBeloud