Indice IBEX 35
Short

IBEX35 due for a large correction -20%

71
The IBEX35 index, the blue-chip benchmark for the Madrid stock exchange, seems to be on the cusp of a large correction to the downside of about -20%<-25%. Technical indicators signal a consolidated drift lower, while the MACD also signal a broader Sell-Off move.
Concerns are for the undercapitalization of many listed companies, in particular, the Spanish banking sector could be of concern for the issuance of subordinated debt obligations, the debt/leverage on the bank's balance sheets could be of concern, as in fact, the equity part and the stock prices of IBEX35 listed BANK STOCKS have been constantly sliding lower, sign of a broader concern in the financial and banking industry about the Banking industry in Spain and its debt/leverage, while Banks as SANTANDER already would be under market liquidity pressure for the upcoming debt obligation due in 2023 and 2024.

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