Spain ETF EWP

Spain ETF closed down by -1.05% to 27.44 on 23 January 2021 and +-6.12% on a weekly basis. Spain ETF momentum was last calculated at +50.0/100 indicating positive momentum. Spain ETF trend is +50.0/100 indicating a positive trend. Spain ETF momentum exhaustion is 1.2395 indicating Spain ETF is oversold.Spain ETF RSI is 58.5292 .

Spain ETF EWP Chart

Spain ETF EWP

Spain ETF EWP Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the Spain ETF. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the Spain ETF trading signals presented in the Spain ETF statistics table.

SecuritySymbolLastMomentumTrendOscillatorRSI1D%1W%1M%1Y%
Spain ETFEWP27.440.50.51.239558.5292-1.05-6.12-3.72-0.05274

Spain ETF closed at 27.44 on 23 January 2021. Spain ETF trend was last calculated at +50.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Spain ETF momentum was last calculated at +50.0/100 (range: -100 to +100) indicating positive momentum. Spain ETF momentum exhaustion is 1.2395 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Spain ETF is oversold and a possible reversal is imminent. Spain ETF RSI was last calculated at 58.5292. Spain ETF moving averages were last recorded as follows: 1-month moving average: 27.3315 in a downtrend , 1-quarter moving average: 25.2852 in an uptrend and 1-year moving average: 23.7866 in a downtrend. Spain ETF annual return was last recorded at None%, daily return was last recorded at -1.05%, and weekly return was last recorded at -6.12%. Spain ETF histrorical 20-day volatility was last recorded at 15.5277%, Spain ETF alpha None, Spain ETF beta None and Spain ETF maximum drawdown was recorded at None%. MacroVar models monitor Spain ETF statistics based on historical data since 1970.

Spain ETF EWP News

Spain ETF Factors

Spain ETF

FactorSymbolLast ValuePredicted ValueR2MacroVar Signal
Spain PMI vs ETFES.FACT.ETFPMI21.4647.9592-1.72244
Spain ESI vs ETFES.FACT.ETFESI21.4680.2845-0.633574

Spain ETF related Indicators

Spain ETF

SecurityTypeSymbolLastMomentumTrendOscillatorRSI1D%1W%1M%1Y%
IBEX 35Stock IndexIBEX856700.250.4952952.9157-1.05-4.32-2.64-0.15824
Spain PMI vs ETFETF vs PMI FactorES.FACT.ETFPMI21.46
Spain ESI vs ETFETF vs ESI FactorES.FACT.ETFESI21.46

Spain Markets

MarketSymbolLastMomTrendExhRSI1D%1W%1M%1Y%
IBEX 35IBEX856700.250.4952952.9157-1.05-4.32-2.64-0.15824
Spain ETFEWP27.440.50.51.239558.5292-1.05-6.12-3.72-0.05274
Spain 10-Year Bond YieldES.10Y0.27-1-1-1.3644245.7791-13.74-40.13-37.93-0.91423
Spain 5-Year Bond YieldES.5Y-0.330.5-0.75-1.2957645.69118.272.7741.631.50515
Spain 2-year bond yieldES.2Y-0.540.5-1-1.3608940.46193.858.8711.570.75209
Spain Yield CurveES.YC0.82-0.5-0.5-1.0706550.2841-1.56-13.41-10.77-0.19952
Spain Credit Default SwapsCDS.Spain30.5-1-1-0.8968125.41613.39-7.58-11.59-0.02361

Spain Economic Indicators

IndicatorActualPreviousM/M%Y/Y%TrendSlopeZS5YUpdate
balance of trade140100-1296900-1.108030.1259521.01.00.62021-05-31
bank lending rate1.541.220.262295-0.08605341.0-1.00.42021-05-31
banks balance sheet2925.72921.50.001437620.04336511.01.00.82021-04-30
business confidence-1.11-2.1-0.9523811.01.00.4416672021-06-30
capacity utilization77.477.010.00506428-0.0349127-1.0-1.00.2833332020-10-01
capital flows17815414-0.6710380.2515811.01.00.7166672021-04-30
car registrations8579092916-0.07669290.214021-1.01.00.9333332021-06-30
central bank balance sheet109541010791600.0150580.1784421.01.00.4833332021-06-30
consumer confidence97.5890.09550560.606261.01.00.9833332021-06-30
consumer price index cpi107.32106.810.004774830.02728061.01.00.9666672021-06-30
core inflation rate0.20.3-0.333333-0.818182-1.0-1.00.03333332021-05-31
current account7293335-0.781409-0.6665141.0-1.00.1333332020-12-31
current account to gdp0.72.1-0.666667-1.075271.01.002020-01-31
exports28268300235420000.200760.2985461.01.012021-03-31
external debt227004000022361700000.01514640.1479981.01.00.7166672021-01-01
foreign direct investment21512798-0.231237-0.538611.0-1.00.42021-04-30
foreign exchange reserves66865.866238.40.00947185-0.0277092-1.0-1.00.1833332021-06-30
gdp1394.121419.74-0.0180456-0.05299121.0-1.002019-01-31
Real GDP288284290028-0.00601321-0.0326787-1.0-1.00.252021-03-01
gdp growth-0.417.1-1.02339-1.57143-1.0-1.00.3333332021-01-01
gdp growth annual-4.2-8.9-0.52809-2.5-1.0-1.00.1833332021-01-01
gold reserves281.58281.6-0.00007102270-1.0-1.00.7083332020-07-01
government budget-11-2.92.79311.5-1.0-1.002020-01-31
Government budget-30628-168910.813273-0.0503241.01.00.62021-05-31
government debt139273000013455700000.03504830.1999981.01.002021-01-01
government debt to gdp12095.50.2565452.037971.01.002020-01-31
housing index1625.41622.30.001910870.03753351.01.00.552021-01-01
housing starts0.90.730.2328771.51.01.00.852021-03-31
imports2706200027138200-0.002807850.5561461.01.00.9833332021-05-31
industrial production2648.2-0.460581-2.150441.01.00.2166672021-05-31
industrial production mom0.4-0.1-5-1.032-1.01.00.4333332021-03-31
inflation cpi2.72.70-41.01.00.152021-06-30
interbank rate-0.38-0.38001.0-1.00.5083332021-06-02
interest rate0.050.05001.0-1.00.7916672016-03-09
loan growth6.57.8-0.1666671.096771.01.00.6833332021-04-30
loans to private sector464930468510-0.00764125-0.0223361-1.0-1.00.6833332021-05-31
long term unemployment rate6.35.70.105263-0.11.0-1.00.5166672021-01-01
manufacturing pmi60.459.40.0168350.2326531.01.00.952021-06-30
money supply m1126218012455400.01335970.09491051.01.00.2166672021-05-31
money supply m2138689013738300.009506270.05870271.01.00.6166672021-05-31
money supply m3142902014164300.008888540.05678771.01.00.7166672021-05-31
new home sales9.28.520.07981221.153561.01.012021-05-31
Producer Price Index110.1108.20.01756010.152881.01.012021-05-31
PPI Index15.312.80.195312-2.738641.01.00.12021-05-31
retail sales MoM-0.43.5-1.11429-0.979798-1.01.00.552021-04-30
retail sales19.640.5-0.516049-2.015541.01.00.2666672021-05-31
services pmi62.559.40.05218860.2042391.01.00.952021-06-30
total vehicle sales96785954030.01448590.1710081.01.00.8833332021-06-30
unemployment rate15.9816.13-0.00929944-0.04540021.0-1.00.52020-07-01
youth unemployment rate36.938-0.0289474-0.0634518-1.0-1.00.62021-05-31
Construction sector-0.1-6.9-0.985507-0.9962961.01.00.1833332021-04-01
Consumer sector-11.6-17.4-0.333333-0.602741.01.00.1333332021-04-01
Manufacturing sector2.6-5.7-1.45614-1.084691.01.00.452021-04-01
Retail sector-3-21.2-0.858491-0.9220781.01.00.2166672021-04-01
Services sector3.7-19.5-1.18974-1.077241.01.00.2166672021-04-01
ESI - Economic Composite10696.90.09391120.4095741.01.012021-04-01

Spain ETF Trading Signals


MacroVar estimates the following signals: Spain ETF momentum, Spain ETF trend, Spain ETF oscillator, Spain ETF RSI and Spain ETF returns.

Spain ETF Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarSpain ETF momentum signal ranges from -100 to +100. The Spain ETF momentum signal is derived as the mean value from 4 calculations for the Spain ETF. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Spain ETF return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Spain ETF EWP momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Spain ETF momentum signal moves from positive to negative value or vice-versa.

Spain ETF trend

Spain ETF trend signal ranges from -100 to +100. Spain ETF trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Spain ETF Closing price vs Spain ETF moving average (MA) calculation: If Spain ETF is greater than Spain ETF MA value is +1, else -1, 2. Spain ETF Moving average slope calculation: if current Spain ETF moving average is higher than the previous MA, Spain ETF upward slope +1, else -1
Spain ETF trend model can be used as a trend strength indicator. Spain ETF trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Spain ETF trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Spain ETF 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Spain ETF is in an uptrend when Spain ETF price is higher than the 52-week moving average and the Spain ETF 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Spain ETF oscillator and Spain ETF RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Spain ETF oscillator

The Spain ETF oscillator estimated by MacroVar is the z-score of the current Spain ETF price versus Spain ETF 1-year simple moving average price. The formula for the Spain ETF oscillator is:
Spain ETF oscillator = (Current Price – 250 trading days Spain ETF simple moving average price) / (250 days Spain ETF price standard deviation)

Spain ETF oversold conditions
Spain ETF is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Spain ETF is oversold it is often due for a rebound. Values of the Spain ETF oscillator lower than -2.5 signify oversold conditions. It must be noted that the Spain ETF oscillator must be analyzed ibn conjunction with the rest of Spain ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Spain ETF RSI.
Spain ETF overbought conditions
Spain ETF is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Spain ETF is overbought it is often due for a correction. Values of the Spain ETF oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Spain ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Spain ETF RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Spain ETF is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Spain ETF uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Spain ETF returns

MacroVar calculates Spain ETF returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Spain ETF returns = (Spain ETF Closing Price – Spain ETF Previous Price)/(Spain ETF Previous Price)
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