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Swiss Market Index (SMI)

The red short-term cycle composite tracked the price behavior well. The SMI showed more weakness than the cycles forecasted for the last week. The price fell below the October 7^th low, a significant low, as several cycles had lows on that date. The next similar event is on November 23rd.

The recent price weakness could hint that there will be another strong down move into the late November low. A retest of the August or even April low is possible. The medium-term cycle composite (orange) and the long-term cycle composite (blue) push until early 2025. In such a situation, a short setback, as witnessed last week, is possible but often resolves in a new bullish move, which should take prices above the August highs.

The coming three weeks could be volatile in the Swiss market. I would use it to add to existing positions or add new positions.

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