Ibex clings to the 8,500: further down no supports until the 7,500

In these moments, DIA has turned around and rebounds 6% to be the best value of the Ibex, followed by Acerinox (+ 2%) and Amadeus (+ 1%). Although the falls are those that predominate in the selective.

Bankia drops 3.7% after the government has extended the deadline to sell its control stake in the bank chaired by José Ignacio Goirigolzarri. The session was very negative for banks: CaixaBank fell by 3.6%, followed by Bankinter (-2.4%), Sabadell (-2%), Santander (-1.9%) and BBVA (-1%). 4%).

NEGATIVE MARKET

The situation is more than complicated after the decisions of the Federal Reserve (Fed) have been misjudged. It was expected more because the US central bank has suffered a lot of pressure in recent times (even by the president of the United States), but the Fed fulfilled an expected script (raise the rates again and lower their forecast of rate increases to two for next year).

All in all, Europe extended falls on Friday (Cac: -0.8%, Dax: -0.5%, Ftse MIB: -1%) while Wall Street is trading with a mixed sign after marking annual minimums on Thursday. In Asia, things have not gone well this morning, with cuts equally widespread and above 1% in the case of the Nikkei.

Experts speak on Friday of the "bloodbath" that is being seen in the markets. "Asian shares fell after declines in US markets, the so-called 'market fear indicator', the VIX, rose 2.8 points to 28.38, its highest level at the close since early February," they explain. the analysts of Danske Bank.

These experts point out that the Fed has caused a rise in negative sentiment, also fueled by renewed tensions between the United States and China after the US Department of Justice filed charges against Chinese officials for coordinating a decade-long spy campaign to steal intellectual property to companies. Treasury Secretary Steven Mnuchin said the accusations are separate from the trade talks, which are scheduled to resume in January. However, China demanded that the Justice Department drop the charges.

Meanwhile, the lower house of the US Congress approved the financing of Donald Trump's wall with Mexico. However, experts expect the proposal to be rejected by the Senate before midnight on Friday, increasing the possibility of a partial closure of the federal government.

In the commodity market, Brent oil fell 1.1% to $ 53.74. In the foreign exchange market, the euro dropped in value 0.34% to $ 1.1409. And in the debt market, the yield of the 10-year Spanish bond stands at 1.39%.

Finally, it should be stressed that today there is "four-hour witch" (maturity of options and futures on both sides of the Atlantic) and that this contributes to increase the volatility of the indices.

TECHNICAL ANALYSIS OF THE IBEX 35

"Of support in support, this is how the day is moving in the last sessions, we lost the 8,630 points (now resistance) and we have moved to the following: the 8,500 points. The problem is that if this is also drilled, in closing prices, there is nothing left until the summer minimums of 2016, the minimums of the Brexit in the 7,580 points.

Yes, it may seem like an abyss, 1,000 points lower, 11% lower, which is just what the European banking index lacks to return to the origin of the movement, to the Brexit minimums at 77 points. This is not incompatible with the fact that we must be prepared so that at any moment, when we least expect it, there will be an important rebound (reaction phase).

But nothing more. Looking mainly at the worrying deterioration of the Wall Street indices, it seems that the strategy at this moment is to take advantage of the significant rebounds, which will come sooner or later, to lighten the portfolio. To reduce risks. Rebounds aside, the truth is that they paint a bad future for in the short term 2019. If, as it seems, Wall Street is changing its trend, there is still a long way to go downwards ".