Market Talk – January 6, 2024
ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 decreased 587.49 points or -1.47% to 39,307.05 • Shanghai decreased 4.51 points or -0.14% to 3,206.92 [...]
Swiss Market Index – Third Time a Charm?
QUESTION: Mr. Armstrong; I attended your 1992 Zurich Institutional Seminar when the Swiss Market Index was trading just below 200. You gave your projection for the high in 2007 would be 9500.0. We sold that high at the bank and the market peaked at 9548.1. The market rallied back to 9537.9 in 2015 and we sold it again. I left the bank as you know and have retired with your turn in 2015. You have always said that if a market knocks on the door 3 times, it is going to go through. My question is, do you think this will hold true in Switzerland?
Keep up the excellent work. The world really needs you.
ABR
ANSWER: Yes. The next resistance target will be 11000-11200 level if we break through the 2007 high. Enjoy your retirement. Of course we never really stop thinking about the markets and the world. I suppose it is a curse of the trade.
As far as “The world really needs” me; that’s what I am afraid of. Getting drafted at my age is not exactly my idea of retirement. So I hope you are wrong on that forecast.
Good fortune.
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