Ichimoku Update Spain Stock market April 3, 2016

Ichimoku Update Spain Stock market April 3, 2016

Figure 1 shows the eSignal Monthly Ichimoku chart for the Spain Stock Composite $IBC-MAC.   Price held the resistance at 9061.44.     Therefore, the market is now consolidating between 7802 and 9827 until one of them are broken.    The probabilities are towards the bearish side.

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Figure 1a:  eSignal Ichimoku Monthly chart of Spain Stock market 

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 Figure 1b:  eSignal Ichimoku Monthly chart of Spain Stock market March 3, 2016

Figure 2 shows the eSignal Ichimoku Weekly chart for the Spain Stock market.  The weekly time frame is supporting the monthly time frame.   The support and resistance are a little different but the overall trend is bearish.      If the resistance at 9183 is broken than a bullish pull back will occur to the 9827 level.   If the support is broken then the support at 7802 will be tested and could break it.

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Figure 2a:  eSignal Ichimoku Weekly chart of Spain Stock market 

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Figure 2b:  eSignal Ichimoku Weekly chart of Spain Stock market March 3, 2016

Figure 3 shows the Daily time frame for the Spain stock market.   The daily time frame has gone through a bullish pull back and held the resistance at 9183.   Now, price is going to the support at 8479.

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Figure 3a:  eSignal Ichimoku Daily chart of Spain Stock market 

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Figure 3b:  eSignal Ichimoku Daily chart of Spain Stock market March 23, 2016

 

In summary,the Spain stock market is still bearish heading towards the support at 8479.46.

 

Spain Trade Analysis MAP-MAC: Mapfre

As the Spain stock market has been bearish, we have analyzing MAP-MAC in a bearish trade. Figure 4 shows the chart for MAP-MAC, Spain stock. Price is holding the support at 1.61 so far.    Since price got there very fast, everything on the chart has to equalize.   Once it does, we will be able to see what will happen at this support.

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 Figure 4a:  eSignal Ichimoku Monthly  chart of MAP-MAC 

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Figure 4b:  eSignal Ichimoku Monthly chart of MAP-MAC March 3, 2016

Below is Ichimokutrade Heatmap table for all the major stocks in the Spain Stock market (Table 1).  The table now has a mixture of colors.    This is caused by the overall stock market long term consolidating.   The key thing to note is in the weekly bearish trend for the Spain stock market, there are still some Green boxes on the monthly time frame.   They are the strongest of the group.   AMS-MAC is one to definitely look at…..

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Table 1a:  Ichimokutrade heatmap table for Spain Stock market 

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Table 1b:  Ichimokutrade heatmap table for Spain Stock market March 3, 2016

Figure 5 shows the trending stocks on the monthly time frame.    These are the best opportunities.   If the overall market is bearish, a trader should be looking at the monthly bearish stocks first since they will have the highest probability of continuing to move down as long as they aren’t over extended.

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Figure 5:  Monthly Trending Stocks

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to www.ichimokutrade.com or email us at info@eiicapital.com

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About the Author Manesh Patel