IBEX 35 Index Futures December 10, 2012, Technical Analysis

The IBEX 35 had a negative session on Friday as we continue to grind around between the €7800 and €8000 levels. Because of this, this market looks extraordinarily tight and like it is simply stuck in neutral. With that in mind, we see this is an ultra short-term trader’s type of marketplace, and currently hold no positions. In fact, we are not interested in trading this market in till we get some type of positive or negative direction. Right now we simply see no trading opportunities as the market seems fairly content to hover with a focus on €7900.