Today in Piazza Affari we had the confirmation of what we have been writing for days as a Proiezionidiborsa Study Office. The Italian stock exchange at this moment has a high resilience capacity. It is, in short, capable of resisting bearish attacks, reacting strongly.
But let’s see what happened today. In particular, the inexplicable enigma that involved the Milanese list but which allowed Piazza Affari to limit the damage.
The reasons for the sharp decline
Today the start of the Ftse Mib index (INDEX:FTSEMIB) was bad. At the start of the session, the stock market was already losing 1.6%. But the other European stock exchanges were also in decline. The decline was due to yesterday’s lower closing of the US stock market, disappointed by the words of the President of the Fed, Powell.
The market expected concrete initiatives while the FED was limited, according to many analysts, to simple statements. The markets did not like this and Wall Street closed down, albeit fractionally.
So today all the European stock exchanges started badly, especially the Italian stock exchange.
The inexplicable enigma that involved the Milanese list but that allowed Piazza Affari to limit the damage
The Ftse Mib index opened below the 19,700 point threshold, but after a couple of hours it managed to return above this important level. All day he flirted with this threshold and eventually ended the session at 19,739 points, down 1.1%. Proof of the price-holding capacity we’ve been writing about for weeks.
The curious thing is that shortly before the opening of the American stock exchange, the prices of the Ftse Mib were at the lows of the day. But from 3.30 pm, so when Wall Street opened, the index began a strong recovery. A sprint that allowed him to finish above the 19,700 points threshold.
An enigmatic fact. In fact, it may have been a natural reaction if US stock prices opened higher. In reality, the start of the American stock markets was in decline and therefore a recovery of the Ftse Mib is quite inexplicable.
Deepening
To know the multidays analysis and the point of view of the international markets of the ProiezionidiBorsa Study Office, click who.
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