Swiss Market Index reaches resistance on 2M MEGA Channel
Just 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.
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.
Trade active:
Corona Virus Panic leads to a hard sell off on the markets including SMI.
SMI got clearly rejected on aforementioned resistance and fell (almost) down to the Weekly EMY30, which *may* act as support. Very unsure if it will though concerning actual news and market sentiment.
SMI got clearly rejected on aforementioned resistance and fell (almost) down to the Weekly EMY30, which *may* act as support. Very unsure if it will though concerning actual news and market sentiment.
Comment:
Further falling, down to my "middle line", may have some support here. But who knows? Looks like this is what is meant with the phrase "returning to the mean".
Possible price movements in the chart, but stay cautious: everything is possible in these times.
Possible price movements in the chart, but stay cautious: everything is possible in these times.
imgur.com/WHqxOLn
money.cnn.com/data/fear-and-greed/