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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.
SIX:SMIShort
by nico14
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.
SIX:SMI
by Achintel
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: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
SIX:SMILong
by InvestingScope
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. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
SIX:SMILong
by InvestingScope