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The Ibex recovers 8,200 and is very close to the next resistance thanks to the banks


The Ibex continues stuck near that immediate resistance at 8,375 points (+ 0.98%. 8,220 points). Within the index, the increases in Santander, Sabadell, Bankia and CaixaBank stood out, and the falls in PharmaMar (-3.95%) and Solaria (-3.83%).

"In the last few days we have seen a consolidation of levels in the Spanish index pending the appearance of a sign of strength that shows us an extension of the rises to the level of 8,375 points, maximum of the bearish gap that will be left in the month of March. We will not appreciate not the slightest sign of weakness as long as it remains trading above 8,000 points", explains César Nuez, analyst at Bolsamanía and head of Trader Watch.

Meanwhile, investors continue to divide their attention among the negative news (the many deaths that are still being reported around the world, also in Spain, due to the coronavirus), which seems to be weighing less right now, and the positive news. Attention continues to be focused on advances in vaccines. The last hour passes by UK approval of Pfizer and BioNTech vaccine, thus anticipating the EU and the US.

This Wednesday's agenda includes the November strike in Spain (rises by 25,269 people), the employment report of the consulting firm ADP in the US (prelude to the employment report that will be released on Friday), which has left a negative note as only 307,000 private jobs were created in November, less than expected, and the appearance of Jerome Powell, Chairman of the Fed, in Congress, as prominent quotes.

It should be noted that in Australia, GDP for the third quarter has risen 3.3% month-on-month (compared to the previous -3% drop), although it has fallen by 3.8% in the interannual rate.

Investors are also on the lookout for oil, which is trading flat after OPEC + delay their meeting to reach an agreement on production to this Thursday after failing to reach an agreement on Monday. Some countries want to maintain current production levels while others, such as the United Arab Emirates and Kazakhstan, want to increase supply now.

Also, underline that Janet Yellen has spoken, appointed by Joe Biden as new Secretary of the Treasury. Yellen has said that the health and economic "tragedy" facing the United States due to the coronavirus pandemic it calls for action "urgently" because "inaction could cause even more devastation."

Finally highlight that talks on the US stimulus package are back in the spotlight. A group of bipartisan politicians presented a $ 908 billion aid package on Tuesday. One senator described it as a "provisional" proposal. Before the presidential election, Democrat Nancy Pelosi and Republican Mitch McConnell had very conflicting positions on crafting a package. Pelosi was pushing a $ 2.2 trillion plan, while McConnell was pushing a $ 500 billion program. "Yesterday McConnell talked about a $ 1.4 trillion package, so things seem to be going in the right direction", they point from CMC Markets.

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