Third consecutive session in red for the Ibex (-0.32%), which separates it from the 9,500

The new forecasts from the IMF point out that the Spanish economy will grow 2.1% this year, as it revised its forecast for January, although the international institution has confirmed its expectation that Spanish GDP will grow 1.9% in 2020. The corrections of the rest of the European economies have been somewhat more aggressive, which has caused the rest of the main European stock markets to close with greater losses than the Madrid floor.

In the business sector, the most bullish company in this session was Cellnex (+ 2.86%), which has received a recommendation improvement from Bank of America. For its part, Ence has been the most punished value to yield 2.29%.

In the Continuous Market, Neinor Homes fell by 16.73% after the 'profit warning' that was launched at the close of yesterday's trading session. The company has reduced its EBITDA target for this year and next year by no less than 50% due to a lower rate of home delivery.

Outside the national scope, the announcement of Société Générale saying it will cut 1,600 jobs made the news. The entity announced a 'profit warning' in January. Even so, the company's shares have gone up a slight 0.09%.

TRADE NEGOTIATIONS

As a backdrop, this Tuesday we have the latest news about the United States and China. It seems that Donald Trump is not entirely satisfied with how the negotiations are progressing. "We are making progress on a number of things and there are some things that we are still not happy about," said Clete Willems, a member of the National Security Council and a senior White House business adviser during an event at the Chamber of Commerce of U.S.

To this we add the expectations of what may happen tomorrow in the so-called "Super Wednesday" because the meeting of the European Central Bank (with possible juicy details about the ECB's measures for the banks) and the European summit (in which the EU will manifest its position on the Brexit extension) could prove to be an important marker for the week.

Also in other news, Donald Trump has proposed tariffs on the European Union, which rekindles the fears of a trade war between the US and the Old Continent. With all this, Wall Street is trading with falls of between 0.3% and 0.7% at the close of the Spanish market.

TECHNICAL ANALYSIS

"The session on Tuesday has been somewhat more volatile than usual, but manageable. This is because despite rising around 0.8%, stock prices have been turned around and marked a minimum in the session at 9.388 points, near the bullish gap left there last Wednesday at the 9.363 points to be exac. This means that we can fill in this gap, that is not closed (or canceled), "José María Rodríguez, an analyst at Bolsamanía, said.

"As long as it does not close, we understand that the conditions are in place to continue climbing positions, with a first objective in the resistance of 9,555 points and above the upper part of the bullish channel in recent months. I'm concerned in the short term since we have the stochastic oscillating and trying to cross to the downside from significant overbought levels, "he adds.

"In recent months, every time this has happened, prices have taken a breather, although you already know that to correct you do not need to fall hard, it is enough to deploy a wide side to adjust / drain the previous rises. In relation to the big engines of our Ibex, Santander has not been able to resist the resistance in the bearish gap of 4.43 euros and Inditex with the key resistance of 27.07 euros, "the analyst concludes.