Hangover day for the Ibex, which extends Monday's bullish party

Danske Bank experts recognize that the uncertainty is beginning to subside. "The market is beginning to appreciate a scenario in which the restrictions imposed by Covid can be lifted in spring and, more importantly, the uncertainty is now much less. We are still facing restrictions throughout the winter and the numbers. infection could continue to rise, but markets can now see the end of the crisis and stimulus should be abundant in 2021. Still, 'normality' seems to arrive earlier than expected. We could also see other positive news about the vaccine in the next few months".

This Tuesday the European Union (EU) will impose tariffs worth $4bn dollars to the US for its aid to Boeing and after the tariffs that the United States imposed on Europe for aid to Airbus. In addition, the calendar for the day includes the publication of the November ZEW in Germany, as well as unemployment data in the United Kingdom (rises from 4.5% to 4.8%, as expected). In China, inflation was lower than expected, as the October CPI fell 0.3%, compared to the expected rise of 0.2%. This has reduced year-on-year inflation to 0.5%, below the estimated 0.8%.

Today there is also talk of treatments and vaccines against the virus. The US FDA has authorized the emergency use of Eli Lilly's drug against Covid. Meanwhile, Brazil has stopped clinical trials of the Sinovac vaccine due to a "serious adverse event."

As for the technical aspect of the Ibex, as we have been telling you since yesterday, it has pulverized the upper part of the bearish channel in which it was moving, the area of ​​6,950 points. "If the exit to the upside of the bearish channel is confirmed, we will not rule out a movement in search of the important resistance it presents in the bearish gap of mid-June at 7,664 points and the maximum for the month of July," says José María Rodríguez, an analyst at Bolsamanía . "A lot can be told in the the weekly candle this Friday," he adds.

And in other markets, the continuous future of the Brent¡barrel rises 0.2% to $ 42.49, following strong gains on Monday when the news about the vaccine was published. Finally, an ounce of gold rebounded 1.4% to $ 1,881, after falling about 4% on Monday.