Ichimoku Executive Summary of Spain Stock Market

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Ichimoku Executive Summary of Spain Stock Market

Figure 1 shows the eSignal Monthly Ichimoku chart for the Spain Stock Composite $IBC-MAC.   April 3 we provided an updated on the Spain Stock Market.    The market was consolidating between 7802 and 9061.77 until one of them are broken.    The probabilities were towards the bearish side.

We retested the resistance and held.    Price will continue to go back and forth between the support and resistance until one of them is broken.   The probabilities are still higher towards the bearish since the sentiment is bearish.     Timing elements are trying to push price down for the next two months.


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


 Figure 1b:  eSignal Ichimoku Monthly chart of Spain Stock market April 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.     The weekly is showing an “inner” consolidation pattern between 8479 and 9183.


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


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

Figure 3 shows the Daily time frame for the Spain stock market.   The supports on the daily match the weekly and monthly time frame.   However, the resistance doesn’t.    The weekly had a resistance of 9183 whereas the daily has a resistance of 9338.    Believe it or not both worked.   The daily held the 9338 and by the end of the week price had closed below the 9183 holding the weekly too.

Price had a chance to start a daily trend but it couldn’t.   It need to hold the minor support at 8808 which it didn’t.    This is not a good sign for the bulls.    Price will either consolidate or it can start a bearish trend if it can break the support at 8479.     The weekly and monthly time frames are pushing for the support to be broken so a bearish trend can start.


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

Figure 3b:  eSignal Ichimoku Daily chart of Spain Sto2016-04-03_spain_dailyck market April 3, 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 and resistance at 2.38.    The Spain stock market had gone to the major resistance which caused this stock to go towards its resistance.   The resistance was not broken in the stock market going up so this instrument is still bearish.


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


Figure 4b:  eSignal Ichimoku Monthly chart of MAP-MAC April 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 upward movement in the stock market has caused more green to show in the heatmap.     Overall, the stock market is still bearish.    The instruments that have a green on the higher time frame i.e. Daily, Weekly, and Monthly time frame are fighting the overall bearish movement.    The instruments that are red 5 on the higher time frame are strong bearish.


Table 1a:  Ichimokutrade heatmap table for Spain Stock market 


Table 1b:  Ichimokutrade heatmap table for Spain Stock market April  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.

2016-05-07_spainmonthlyFigure 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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