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The Swiss Market Index and Novartis have turned down

Novartis has reached an important resistance at 93. At this level the rise from 27.6.2018 was equal in length to the advance from April 2016 to January 2018.
Unless or until this level is broken the uptrend from 2016 could be labeled as complete.
A break of 88 / 86.50 would confirm the new downtrend and a sell signal.
The support levels are 84 / 83, 80 / 79, 77 and 70.


The SMI failed to break the major resistance at 9500 and turned down again.
It is presently trading at the support of 8740, a break of which will activate the next supports at 8550, 8450 or 8170 to 7950.
Sell signals will be triggered if the supports are broken.

Rolf Bertschi