Spain – IBEX 35 18 December 2012

Spain looks to have a rest bite here before entering its final Q down wave! Generally if you look at Greece, and I will soon do Nikkei, you see a long bottoming process and then there will be a gradual building up as the old corrupt elite get replaces with a new political generation, but that takes time - Japan is not through it yet and that has been over 2 decades! The rot needs to be cleared out of the system. I will be doing a article on corrections - there are 2 choices - but either way the in efficient needs to go - price - short sharp drop such as the Nasdaq in 2000, or long drawn out bottoming like Japan! It needs to hit the lower parallel of that fractal wave scale, and then the rebuilding can start! Yearly as much data as I have;     Y Quarterly from 2000 top; Q from 2000 top

Monthly from 2007 top;   M from 2007 top
  Weekly from 2010 top; W from Jan 2010 top
  Daily from August 2012 bottom; D from  Aug 2012

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