Despite the support for the Spanish financial system, markets yesterday made it clear that is not enough.
The following picture shows the evolution of Spanish Bond during yesterday session:
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Despite of the Spain bailout and bullish gap on S&P500 futures, price now faces major resistance areas (EMA50 - 1340).
Its breakout could take us back to new highs.
Meanwhile, the short term trend is Lateral-Bearish.
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Friday humor...
If you are considering trading as full-time profesion, maybe next diagram will help you:
Source: zerohedge
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According to Advisors Perspectives analysis (see here), the S&P500 index would be a 28% overvalued (Fair value: $1002.15)
Source: dshorts
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Wednesday 6th June: ECB Meeting
Thursday 7th June: England Central Bank Meeting
Monday 07th June: IMF report about spanish banks
Sunday 17th June: Elections in Greece
Monday 18th June: G20 Meeting in Los Cabos, México
Thursday 28th June: European Summit in Brussels
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