Swiss Index, SMI, SWI20

The SMI has now commenced the [c] wave of the first part of the first Cycle order downleg. A 5-wave construction of similar overall price action to wave [a] would be typical. 

LINK:  Hang Seng & JSE - Well established Bear in Sync

SMI, SWI20, plus overlays of S&P 500, weekly & hourly

 The cycle II marker is cast in stone at the low of the start of 2016. The SMI has given a 5 wave pattern from there to the recent ATH. Kindly raise your glass to the SMI and congratulate it on this sterling achievement. What was that? Yes, of course, this means that conventional Primary wave [2] is underway. Jump, dive, however you want to take the plunge, just no skinny dipping please, this is a family show.

Overlaying the above with the S&P 500 line chart shows some close correlation. The start at II is aligned and there is close alignment at (4). The alignment at [1] is quite precise as seen in the hourly view. The question of "Does it matter to the S&P 500 if the Swiss index is busy with a prospective 15% correction?" makes the assumption of a target close to (4) for the SMI chart.

The hourly view:

SMI, (Hourly & Weekly)

The hourly SMI chart appears to have completed minor wave 1 which is almost at the 61.8% retrace point for the Primary wave [2] which commenced early in 2018. 

The positive divergence of the RSI for the weekly SMI chart points to the completion of primary wave [2].