May 18

Spain entering new bull market?

Just a short review of IBEX in Spain. To me it looks like IBEX has formed a major bottom pattern over past 3 years , which suggest that Spanish stocks could be about to enter a new bull mkt from here. Looks like a break above green line will make the Spanish market go up huge.

Target would be for IBEX in future , 11.000 to 12.000 area on IBEX. This suggest there is a lot upside in the Spanish market which might be one of the few markets in the world not been able to rally much yet.


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