Elliott Wave Technical Analysis of Swiss Market Index [Video]

Elliott Wave Analysis of Swiss Market Index Trading Room Daily Chart

Elliott Wave Technical Analysis of Swiss Market Index

• Function: Trend.

• Mode: Impulsive.

• Structure: Orange Wave 3.

• Position: Navy Wave 3.

• Address of the next higher degrees: Orange Wave 3 (started).

• Details: Orange Wave 2 of 3 appears to be complete, and Orange Wave 3 is already in progress.

• Invalid wave cancellation level: 10254.21.

The Swiss Market Index (SMI) is currently displaying a trend mode with an impulsive structure, as revealed by the ongoing Elliott Wave analysis. The market is advancing through the orange wave 3, which follows the completion of the orange wave 2. This development suggests that the corrective phase associated with wave 2 has concluded and the index has now entered the more dynamic ascending phase of the orange wave 3.

Currently, the SMI is within the Navy Wave 3, which is located within the larger Orange Wave 3. This indicates that the market is experiencing significant bullish momentum. The ongoing Orange Wave 3 is expected to continue to propel the index higher, in line with the impulsive nature of this trend. In Elliott Wave theory, Wave 3 is typically the most powerful and extended wave in the sequence, further indicating that the current bullish move is likely to persist.

The direction on the next higher degree remains focused on the continuation of Orange Wave 3, which has already started. This implies that the market is expected to maintain its upward trajectory within this wave, with the potential to reach new highs as the wave progresses.

A crucial aspect of this analysis is the invalid wave cancellation level, set at 10254.21. This level serves as a critical threshold to validate the current wave structure. If the SMI were to fall below this level, it would invalidate the current wave count, signaling a potential reversal or significant correction in the market.

Bottom Line: The SMI is currently in an impulsive trend mode within Orange Wave 3, following the completion of Orange Wave 2. The index is within Navy Wave 3, and the bullish momentum is projected to continue. The invalid wave cancellation level at 10254.21 is key to confirming the ongoing uptrend.

Elliott Wave Analysis of Swiss Market Index Trading Room Weekly Chart

Elliott Wave Technical Analysis of Swiss Market Index

• Function: Trend.

• Mode: Impulsive.

• Structure: Orange Wave 3.

• Position: Navy Wave 3.

• Direction towards the next higher grades: Orange Wave 3 (started).

• Details: Orange Wave 2 of 3 appears to be complete, and Orange Wave 3 is already in progress.

• Invalid wave cancellation level: 10254.21.

The Swiss Market Index (SMI) is currently following a trending pattern within the Elliott Wave framework, characterized by an impulsive movement. The ongoing analysis identifies the market structure as an orange wave 3, which follows the completion of orange wave 2. This indicates that the correction phase associated with wave 2 has concluded and the market is now moving forward within the more aggressive and ascending orange wave 3.

The SMI is currently positioned in Navy Wave 3 within the larger Orange Wave 3 structure. This position suggests that the index is experiencing significant upward momentum as it moves through the impulsive Wave 3. In the context of Elliott Wave theory, Wave 3 typically represents the strongest and most extended phase of the market’s movement, indicating continued bullish activity.

The analysis points to the continuation of Orange Wave 3 at the next higher level, meaning that the uptrend is expected to persist. Since Orange Wave 3 has already started, the market is anticipated to continue rising and could reach new highs as this wave develops.

A critical component of this analysis is the invalid wave cancellation level, set at 10254.21. This level acts as a key marker to validate the current wave structure. If the SMI were to fall below this level, it would invalidate the current wave count, suggesting a potential reversal or significant correction in the market.

Bottom Line: The SMI is in a trending mode with an impulsive structure within Orange Wave 3, following the completion of Orange Wave 2. The index is in Navy Wave 3, with expectations of continued upward momentum. The invalid wave cancellation level at 10254.21 is crucial to confirm the ongoing uptrend.

Technical Analyst: Malik Awais.

Elliott Wave Technical Analysis of Swiss Market Index [Video]