The Swiss for Year-End 2014

IBSFVS-Y 12-30-2014

The dollar has been rising against the Swiss thanks to its peg to the Euro. Of course the Swiss would love to have a lower currency for that will help their exports. The Swiss is currently trading at 9934 and a merely year-end closing above 9785 will signal that indeed the 2011 low for the dollar will hold and that a test of the 11800 followed by 12300 level then becomes possible. A closing today above 9970 will confirm a dollar rally into 2015. Nonetheless, 2016 still appears to be the start of a Panic Cycle with volatility rising into 2020 with perhaps an important turning point forming as late as 2019.