Falls in the Ibex, which defends the 8,100 in the last quadruple witch hour of 2020

Falls on the Ibex 35 (-0.5%; 8,108 points) to close a week of consolidation of levels. The selective has hardly moved in recent days and closed this Thursday with moderate falls, at 8,153 points. For its part, Wall Street again set new all-time highs last night in hopes of more fiscal stimulus.

On the business scene, Banco Sabadell appointed César González-Bueno as CEO on Thursday to replace Jaime Guardiola.

In addition, Enagás leads the falls in the Ibex after a sharp cut in JPMorgan's recommendation.

All this when the last 'quadruple witch hour of the year' arrives, the quarterly expiration of options and futures on stocks and indices. It is a special day, in which investors position themselves for the next three months.

Therefore, the volume of trading in futures increases significantly in the previous sessions, mainly due to the 'roll' of open positions towards the next expiration.

In Asia, the Bank of Japan has extended its special program for six months to ease corporate financial pressures from the coronavirus pandemic. However, Asian stock markets have closed with falls due to the increase in cases of coronavirus in certain countries of the region, which has affected investor confidence.

On the coronavirus pandemic, Covid-19 continues its unstoppable spread throughout Europe and the United States. Despite the arrival of vaccines (the American FDA has already approved Moderna's), the virus threatens to cause further restrictions and economic losses during the winter months.

On the other hand, negotiations between the European Union and the United Kingdom continue to avoid a hard Brexit before the end of the year.

On a strategic level, Bolsamanía publishes that BlackRock forgets Europe by 2021 and bets on China and Wall Street. The most important investment fund in the world considers that European equities, together with the Japanese, are currently much less interesting than American and, especially, the Chinese and other emerging Asian countries.

TECHNICAL ANALYSIS AND OTHER MARKETS

By technical analysis, the Ibex "remains trading above 8,000 points, in what appears to be a lateral consolidation awaiting the appearance of a sign of strength," says César Nuez, an analyst at Bolsamanía. According to this expert, the bullish signal consists of the overcoming of the resistance of 8,322 points, maximum of the beginning of December, "which would make us think about an extension of the gains to the level of 8,683 points".

On the support side, we must watch their behavior at 7,978 points. "If it were to leave this price level, we could see an extension of the falls to the level of 7,783 points," concludes this expert.

In other markets, Brent oil fell 0.5% to $ 51.21, while the euro depreciated 0.14% and trades at $ 1.2250. In addition, an ounce of gold fell 0.2% to $ 1,885. Finally, the profitability of the 10-year Spanish bond is trading at + 0.02%, after setting negative historical lows a few days ago at -0.02%.