Bertschi's Chart Outlook

This report provides a technical chart analysis across global indices, commodities, and currencies, highlighting the vulnerability of the current AI-led market bubble and key support/resistance levels for major assets.

Key Takeaways

• 1.Global market breadth is favored over mega-cap AI dominance, though structural technical signs indicate potential bubble exhaustion in AI-related assets.
• 2.The Swiss Market Index (SMI) has broken a triangle formation but faces significant resistance levels, with potential for a bearish reversal if support levels are breached.
• 3.Rising Japanese 10-year bond yields approaching the 3% threshold pose a significant risk to global risk assets and carry trades.

Table of Contents

• WORLD – Bloomberg World Large & Midcap EQUAL WEIGHT Price Index (.WORLDW)
• WORLD – Bloomberg Global Artificial Intelligence Aggregate Price Index (.BAIAP)
• SWITZERLAND – Swiss Market Index SMI (.SSMI)
• SWITZERLAND – SXI Real Estate SHARES Broad Price Index (.REALX)
• SWITZERLAND – Swiss Market Index Constituent Stocks
• SWITZERLAND – Selected Swiss Midcap and Smallcap Stocks
• GERMANY – Euro STOXX50 Index (.STOXX50E)
• GERMANY – DAX Index (.GDAXI)
• USA – S&P 500 Index
• USA – S&P 500 Equal Weight Index (.SPXEW1)
• USA – Nvidia – the leader in the chip bubble
• USA – Advanced Micro Devices (AMD.O)
• USA – Broadcom (AVGO.O) – the beauty of bubbles
• USA – Micron Technology (MU.O)
• USA – Qualcomm (QCOM.O)
• USA – Space Exploration (SPCX.O)
• USA – Taiwan Semiconductor (TSM.N)
• South Korea – Korea Composite Stock Price Index (.KS11)
• Japan – Nikkei 225 Index Continuous Future (JNIc1)
• Japan – Japanese 10-year Government Benchmark Bond YIELD
• Japan – Gold per Ounce Spot in Japanese yen (XAUJPY=R)
• COMMODITIES – Gold per Ounce Spot in US dollar
• COMMODITIES – ARCA Gold Bugs (.HUI)
• COMMODITIES – Silver per Ounce Spot in US dollar
• FOREX - Swiss franc per US DOLLAR (CHF=)
• FOREX - US dollar per EURO (EUR=)
• FOREX – Swiss franc per EURO
• CRYPTO – Bitcoin in US dollar

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