The U.S. market DJI respects the short-term bull chanel, as already stated. Today at 13:10 successfully tested the floor of the channel and again it did for the end of day. The DJI is moving upward with increasing maximums and minimums within a channel that has been respected. But it moves very close to his floor, this could be resolved in two ways: a rise or start a process of lateralization (which we have no sign still).
For its part, the Mexican Stock Market, which as already stated, is closely linked to DJI, followed him in his losses. But the IPC made a pullback movement that led to validate the break of yesterday. This validation would give strength to the formation of a new trend and show a more stable market in the short term, with prospects for recovery. But for this on Monday will respect the floor marking.
The fact of respect the levels of support is a positive sign. However, the market could not maintain their momentum, which is a sign of weakness.
Fundamental driver: Today Fitch Ratings lower Spain’s sovereign debt rating from AAA to AA+, sparking fears (VIX in 33.6 +13.21%) and produce falling markets.
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