On March 26, 2024, I wrote a Daily called, “Last Night I Had a Crazy Dream – Swiss Franc”In the blog, I mentioned that,
“I literally woke up to the words “Swiss francs.”
So here I was at 4 am, checking the charts of Swiss Francs, both in the futures market and then with the ETF FXF in multiple timeframes.”With research I read this, “The Swiss Franc has a reputation for being a safe haven or hard currency; it is often purchased during financial uncertainty due to its reliability and stability. Regularly used as a global reserve currency, the Swiss Franc is the sixth most traded currency in the world.”So here we are nearly 3 months later, and the Swiss Franc is trading at levels not seen since mid-March.We sat through some pain.But I never gave up as this is not the first time I awoke to hear my brain saying a trading symbol literally out of nowhere.The ETF FXF chart shows Real Motion inclining in momentum.The Leadership indicator shows FXF outperforming SPY.And the price stopped right at the 200-DMA.So that makes it clear.FXF had a fabulous run since last week,Now, the high made today at 100.08 needs to clear.Then we can easily see 103-104 next.Remember though, this is currency and a slow-moving one.My dream is for the patient.ETF SummaryS&P 500 (SPY) 529 pivotal resistanceRussell 2000 (IWM) 210.80 ATHs resistance 200 supportDow (DIA) 40k resistanceNasdaq (QQQ) 455 resistanceRegional banks (KRE) Watching the range 45-50Semiconductors (SMH) 240 pivotalTransportation (IYT) Needs to clear back over 64.00Biotechnology (IBB) 135 pivotalRetail (XRT) 75-80 trading range to breakiShares iBoxx Hi Yd Cor Bond ETF (HYG) Broke under 77-needs to get back over that level againMore By This Author:Long Bonds Rally-Should We Pay Attention?
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