The Ibex (+ 0.01%) closes flat after failing to conquer the 9,300 points

Wall Street has set new highs at the opening, but has subsequently turned down, which has put pressure on the closure of the European exchanges.

There are still reservations about the momentum of equities and how long it will last, given that the economic situation in the United States and that of Europe is questioned, with Germany on the verge of recession.

In the meantime, investors remain focused on China and the US. It is a fact that it is the great catalyst of the stocks' performance and the element that most contributes to move them.

In Pimco's opinion, both powers will sign their 'phase 1' agreement before Christmas. However, Beijing has declared that it is pessimistic about the deal after Donald Trump has been reluctant to reduce tariffs.

On the other side of the Atlantic, the meeting held between Trump and Jerome Powell, president of the Federal Reserve (Fed), has also made the news. Both leaders held a "cordial" meeting this Monday at the White House. During the conversation they discussed everything, "including interest rates, negative interest, low inflation, flexibility and the strength of the dollar," Trump himself wrote in a tweet.

BME STILL IN FOCUS

At the business level, BME remains the main protagonist. SIX has been confident in its offer this Tuesday. Its leaders have appeared before the media and, without specifying whether they will improve it in the event that Euronext presents a counteroffer, they have remarked that its bid is "Very, very, very competitive". The company has risen 1% after climbing 38% yesterday.

Bolsamanía publishes on Tuesday that, according to several BME sources, Euronext will surely not bid for the Spanish stock market since the synergies are clearer with SIX. If Euronext bid, it would have to fire professionals in Paris or Madrid.

IBEX TECHNICAL ANALYSIS 35

"The Ibex closes flat on Tuesday, without significant changes. And it again makes it clear that there is a resistance zone which, for the moment, it cannot overcome: the bearish hollow of Wednesday of last week at 9,307 points. It is true that we have listed above throughout the session, but it has not been closed. Or what is the same, canceled, so it remains intact, "argues José María Rodríguez, analyst at Bolsamanía.

"If we look at the oscillator of stochastic moment, this throws clear readings of daily oversold, which in principle should favor a continuity of the rises. But to rely on this potential recovery movement we need the bearish 'gap' to close. In addition, everything remains the same, the control zones below and above are found at 9,130 ​​points and 9,500 above. We have the Ibex in nobody's zone, halfway between the short-term control zones ", concludes this expert.