Short the Swiss

In the Yen, Euro and Franc Signaling Market Shift post, I looked at the Swiss franc breaking out versus the euro. A chart of the iShares MSCI Switzerland ETF (EWL) looks much different, a wedge pattern waiting to break.

The wildcard for Switzerland is the SNB buying up stocks like Apple. I haven't calculated how much a 40-50 percent haircut on their stock holdings would impact the central bank's balance sheet, but maybe that is a number that will go viral soon.