Over the last few weeks I have not tired of repeating that before buying more bags, it was optimal to wait for a correction to form in the bags on both sides of the Atlantic that would serve to alleviate overbought and, preferably, that it was at least a replica of the fall we saw in summer in European stocks and in May on Wall Street.
Well, a copy of those two corrections took place a fortnight ago in both Europe and the United States. The reach of the area of 3,980 points on the EuroStoxx 50 and 14,440 points on the Nasdaq 100 came to qualify as an early Christmas gift and hence, following the trading plan and roadmap that we had designed in Ecotrader , We started purchases until we increased our exposure to the stock market by 10 points .
We did this by incorporating Ecotrader’s list of recommendations , which is the one used by subscribers of the elEconomista premium service to build up their portfolio until reaching the recommended exposure levels, to securities such as ACS, Cellnex, Ferrovial, Repsol, ASML Holding , Accor, Adobe Systems, Autodesk, Hyatt Hotels, Lulumelon Athletica, Marriott Hotels, Porsche, Royal Dutch, Total Energies and Zillow Group .
Most of these titles have in common that in the previous rise they were strong and that they corrected widely from the last maximum that they marked weeks ago in their upward trend, thus following the technique of buy on dips or buy in corrections to climb to the main uptrend.
Follow the ‘roadmap’
At this point, it is now time to follow the roadmap that we have designed. In it, we are clear that we must not claim victory yet and that we must not buy more stock until the risks that we can see a new bearish leg in the correction of recent weeks are removed , which could even lead to world indices to lose the lows of fifteen days ago.
Strategic analysis of the EuroStoxx 50
If that happens we could see the Nasdaq 100 reach 13,800 / 14,000 points , something that would be another real Christmas gift . Outperforming the EuroStoxx 50 of 4,215 points and the Nasdaq 100 resistors 15,355 / 15,415 points these risks would turn away and everything would suggest that we would see new highs for the year.