"Market sentiment has been very bullish in the past few weeks"
- Christoph Riniker, head of strategy research at Julius Baer Group Ltd.
Swiss stocks were little changed on Wednesday after a report showed U.S. existing home sales fell.
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies, fell 0.10%, or 6.16 points, to 6,290.00. The broader Swiss Performance Index lost 0.12%, or 6.85 points, to 5,767.26.
"Market sentiment has been very bullish in the past few weeks," said Christoph Riniker, head of strategy research at Julius Baer Group Ltd. in Zurich.
"Markets are overbought, but there are too few investors in the market for a correction. We're likely to see some additional buying on lower levels, which could generally lead to a sideways trend in the coming weeks."
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