- Wall Street closed Wednesday with highlights
- It remains to be seen whether the Ibex has set the minimums of the current corrective phase
The Ibex already adds 0.4% up and regains the 10,600 points. When the markets are sideways and 'worked' with such narrow ranges, ultimately predicting what can happen so short-term is very complicated. What is happening now is that the stocks have liked the last words of Janet Yellen.
- 19.392,400
- -0,77%
The Ibex looks at 10,615, which is the first resistance it has above. It closed the last day in the 10,560 and, like the rest of the European exchanges, rose more than 1%. Wall Street, meanwhile, ended the day also with notable increases, especially on the Nasdaq, which added 1.10% up.
However, it remains to be seen if it is soon to 'launch the bells on the fly' or if you can already speak of having seen the minimums of the current corrective phase. "Focusing on the Ibex, we are going to see if we are able to leave behind the resistance of the 10,615 points. If we confirm, we do not rule out that the rebound has continuity until the zone of resistance that presents in the 10,900 points." That's right: the lateral movement predicted by experts for this summer (between 10,500 and 11,000), for now, remains intact.
This Thursday, Yellen speaks again, but this time before the US Senate. Usually, the first of these two appearances that occur together (one day before the other) usually have more impact on the markets. In the second, it is usual for the Fed president to repeat the same message. That is why the impact of his words, predictably, is already discounted.
Moreover, and from the micro point of view, it is news Liberbank that will continue 'protected' by the action of the National Securities Market Commission (CNMV). The agency has decided to extend two months more the ban on shorts selling in the bank. He has also said that he can extend it after these three months. In short, Liberbank is currently free to be the subject of bearish speculation and the risk of it becoming a 'black swan' in the Spanish market this summer is dispelled.
In another vein, much is being said about the visit of the Kings to the United Kingdom. This Thursday Felipe VI will meet with Spanish and British businessmen and will have lunch with the British Prime Minister, Theresa May. It should be remembered that the staff of Ibex executives, including the presidents of Santander, Telefónica and BBVA, have accompanied the Kings on this trip.
