Chart 1:
Spain IBEX Index: 17 June 2014, Tuesday, 3.09pm Singapore Time
Technical Analysis of the Spanish IBEX index is as per illustrated in Weekly Chart 1 above.
Chart 1 illustrates how the ECB created the escape wave for Spain. This escape wave has now reached the Long Term Bear Market Confirmation Zone, a resistance that would not be broken up because Europe has not fundamentally changed the structures of their ailing economies. This is the the resistance that was used to launch the long term bear market of the Eurozone debtor nations. The debtor nations will resume their secular bear market from here. In the case of Spain, the Spanish stocks and IBEX will resume their long term bear market from the current 11250pts-12500pts resistance band.
Chart 2:
Spain IBEX Index: 17 June 2014, Tuesday, 3.09pm Singapore Time
Chart 2 is the alternate perspective of the Eurozone dead-cat-bounce escape wave.
In the Spanish case, Spain has already reached the end phase of its escape wave helped by the ECB. In fact, all Eurozone and European nations have synchronously hit their Price Satisfaction Zones altogether. This does not come by chance. In Spain's case, the Escape Wave has reached the Price Satisfaction Zone PSZ of 11250 points for the secular bear market to resume.
European and worldwide financial markets are also confirming their bear markets based on Funds Flow Analyses previously done.
Chart 3:
Spain IBEX Index: 17 June 2014, Tuesday, 3.09pm Singapore Time
Chart 3 shows what the IBEX is currently doing. It is making the final re-distribution as with all financial markets worldwide. Most market participants feel only bullishness and never any bearishness at current point. This is where the risk is high for stocks and equities investors.
Chart 4:
Spain IBEX Index: 17 June 2014, Tuesday, 3.09pm Singapore Time
Chart courtesy of StockCharts.com
Chart 4 puts all the above mentioned points together in one chart.
This is the overall perspective of the Spanish financial markets are current point. As reiterated, European and Worldwide Financial Markets are making technical confirmations of their bear markets in 2014.
Donovan Norfolk Technical Rating:
Bearish
Exit Financial Markets
Sell/Short Financial Markets, Stocks & Equities
Signs of Topping Out; Transition from Bull to Bear Markets Worldwide
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