SSMI trade ideas
SMI (Swiss Index) - in the verge of counter-trend rally reversalSMI has finished or is very near to finish its primary wave 2. After wave 2 is finished, wave 3 down should lead the index to new lows. If the index crosses down 9,380 the odds are that wave 3 has already began. FOLLOW SKYLINEPRO TO GET UPDATES.
SSMI - Swiss market bullish viewThe rally in world equity markets is starting to look just a bit more than a rally to my way of thinking. Here the Swiss equity market index has almost touched the 61.8 fib retracement of the recent decline. Does it have another leg lower t touch the out limit of the pitchfork or just a correction before continuing higher to complete a 5th wave? Or do we need to look at the decline/rally and subsequent decline that occurred in 1998 in this index. Also bumping up against that resistance line from 2007. One thing I do think is that if this count is totally wrong then it will be wrong in a very big way.........
SMI Index - Switzerland - long term move downThe Swiss index is tracing down super cycle C wave that should bring down its prices below 6200. There would be opportunities ahead in counter-trend moves, but the long-term is down. In the shorter timeframe the index is on the final stages of intermediate 2 up. After it finishes, wave 3 we bring the index to new lows. FOLLOW SKYLINEPRO TO GET UPDATES.
SSMI - Swiss equities - Bearish (with a bullish alternative)As I go through some indexes on a Sunday evening some bearish patterns seem to leap off the charts at me. Maybe I have been reading too much bad news in the press as these patterns would suggest some pretty cataclysmic moves going forwards. Maybe however, the optimists will win out again so I have included a more bullish count in the hope that I will be wrong.
Rebote en 8.800La bolsa Suiza podría debotar contra la resistencia en 8.800p si hoy cierra por debajo de dicho nivel
SMI: shortMarket has topped out. Bearish div a good indicator for past recessions. Rising wedge pattern. If it breaks down, things are really bad.
Swiss Market Index reaches resistance on 2M MEGA ChannelJust Wanted to share my observations.
SMMA/EMA:
SMMA cross down (orange): "bottom reached"
SMMA cross up (green): "bull market incoming"
RSI leaving overbought zone and MACD signal cross downalso signal corrections / bear markets.
Although the market reached resistance, the Swiss economy is still pretty solid, so it may just stay at around this level for some time like it has done before in 98' to 00'. MACD and RSI are not sending bearish signals already but may will in the next few years. I would even assume there can come another push to the upside due to the over-bullishnes of the market and other circumstances like central bank interventions (QE) and others like not taxing big (tech) companies, no interest rates on bank accounts etc.
SMI may continue lower in at least another swing downTime scale: 4 hours.
Status: SMI is turning down against the 2/20/20 highs at 11270
- where the intermediary wave (C) is favored ended a cycle up in wave Y (circled) from the 12/27/18 lows at 8138.56
- where the wave X (circled) has printed a bottom correcting the cycle up from the 2/11/16 lows at 7425.1 (not shown)
- where the daily right side is up.
Trading idea: While bounces remain below 11270, expect index to extend lower in at least another swing down. Hereafter, the trend up may resume or produce a 3 waves bounce at least. We dont recommend short selling, since the daily right side is up.
SMI: Bullish extension for Swiss Stocks to 10,400.The Swiss market has broken above the Rising Wedge's resisting trend line (dashed) and may follow the 1W Channel Up pattern (RSI = 63.217, MACD = 177.900, Highs/Lows = 173.0836) which started in early May. Based on the RSI break out it has an upside potential to at least 10,400.
Keep in mind that this break out is part of a larger bullish move as we illustrated in May (see the chart below). The Swiss Market Index (SMI) has entered a new long term Bull Cycle after it broke above its 12 year Resistance last April:
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SMI: New bull market on Swiss stocks. Excellent buy opportunity.The Swiss Market Index broke past the 9,600 1M Resistance in April. This level has been rejecting any upside movements since 2007. This is a cyclical mega long term development as a new bull market is emerging. Since it has been trading within a long term Channel Up (RSI = 59.500, MACD = 210.200, Highs/Lows = 364.7764) with recurring bullish leg, we have no reason to believe that this will be discontinued. If the current bullish leg also lasts around 1430 days, then this puts the next Higher High around 12,500 by late 2022. Excellent long term investment opportunity on Swiss stocks.
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SMI Major Multi-Year Resistance (Monthly chart)The Swiss market index is now again testing a the major multi-year resistance around ~9 500 which in the past has produced multiple strong rejections.
Potential Short-term/Intermediate-term bearish plays from this resistance. Lower timeframe for possible entry.
