Around the Fair November 2025
Analysis of European and American indices with support, resistance and emerging markets

Core Levels and Emerging Markets Analysis. A quick look at support and resistance zones in European and US indices, followed by a technical analysis of EM ETFs (emerging markets): the start of a trend reversal?
What we cover
- Europe: AEX25, BEL20, CAC40, DAX40, MIB40 and IBEX35.
- US: SPY, QQQ, IWM, SMH, USO and GDX.
- Ratio charts to measure trend reversal
Chapters
Emerging Markets
Key Insights – Around the Stock Market and EM
- Europe: The AEX, BEL, and IBEX remain in an upward trend. The DAX and MIB are consolidating. The CAC is showing the beginning of a new uptrend.
- VS: SPY, QQQ, IWM, and SMH are in an uptrend, USO remains sideways, and GDX is experiencing its first "major" correction.
- Emerging Markets Analysis: In the short term: rising curves. Both ETFs are outperforming the STOXX600. Are we witnessing the start of a new bull market for emerging markets?

Around the November 2025 stock market with Emerging Markets analysis: trend reversal?
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