IBEX 35 Stock Plummets: Index Dips 1.72% in Sharp Sell-off

The Spanish stock market benchmark, the IBEX 35, experienced a significant downturn in today’s trading session, reflecting strong bearish sentiment among investors. The index fell sharply, breaking below a key psychological level and ending the day deep in the red.

Table of Contents

1. Today’s Market Performance at a Glance

2. Detailed Intraday Trend Analysis

3. Key Technical Levels to Watch

4. Market Summary and Outlook

   Advertisement

1. Today’s Market Performance at a Glance

The IBEX 35 index recorded a substantial loss, highlighting a challenging day for the Spanish equity market. As of 15:05:40 UTC+2 on July 4th, the key figures were:

• Index: IBEX 35 (INDEXBME)

• Last Price: 13,938.70

• Day’s Change: -244.20 points

• Percentage Change: -1.72%

• Previous Close: 14,182.90

The data clearly indicates that the stock index failed to hold its ground against the previous day’s close, succumbing to persistent selling pressure throughout the session.

2. Detailed Intraday Trend Analysis

A closer look at the intraday chart reveals a story of consistent selling from the opening bell.

• Morning Session: The market opened with a significant gap down and immediately entered a steep decline. The most aggressive phase of the sell-off occurred in the first couple of hours, with the index plunging from an opening high near 14,110 to below the 14,000 mark before 10:30.

• Mid-day Consolidation: Following the initial sharp drop, the IBEX 35 entered a phase of low-level consolidation. For several hours, the index traded in a tight range, mostly between 13,940 and 13,960, indicating that bears remained in firm control and any bullish attempts at recovery were short-lived.

• Afternoon Session: The market saw a final dip to its intraday low shortly before 14:30. A minor bounce-back was observed leading up to the time of the report, but the index remained significantly below the critical 14,000 level.

3. Key Technical Levels to Watch

For traders analyzing the stock’s performance, several technical levels from today’s session are crucial:

• Previous Close / Key Resistance: The previous close of 14,182.90 now acts as a major resistance level. The market traded below this point for the entire session.

• Psychological Level: The 14,000 mark was a key support level that was decisively broken in the morning. Reclaiming this level will be the first challenge for bulls in the upcoming sessions.

• Intraday High: The day’s high was established at the market open, around 14,110, before the sell-off began.

• Intraday Low: The low point of the day was established around the 13,920 level in the afternoon, which may now serve as a near-term support reference.

4. Market Summary and Outlook

In summary, the IBEX 35 had a definitively bearish day, characterized by a sharp opening drop and an inability to mount any meaningful recovery. The close below the 14,000-point threshold is a significant technical event that could signal further downside potential.

Traders will be closely monitoring whether the index can find support at its current lows or if the selling pressure will continue in the next trading session. The ability (or inability) of the market to challenge the 14,000 resistance level will likely set the tone for the near future.

Disclaimer: This article provides a factual summary of stock market data for informational purposes only. It does not constitute financial advice. All investment decisions should be made with the help of a qualified professional.