Robin Griffiths: Spanish Stocks Are Off the Worry List

| About: iShares MSCI (EWP)
This article is now exclusive for PRO subscribers.

The Spanish IBEX 35 Index is in an uptrend and off the worrying agenda, Robin Griffiths, technical strategist at Cazenove Capital told CNBC.

Source: CNBC, January 24, 2011.

The daily chart of IBEX Index is shown below. Although the Index has turned the corner as far as relative performance against the Dow Jones World Index is concerned (second panel), the price and momentum charts (top and bottom panels) look toppish in the short term.

Click to enlarge: