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| FTSE100 |
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| FTSE250 |
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| Eurostoxx50 |
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| Dow |
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| S&P500 |
Thursday, 12 July 2012
Market 20/50 moving average - FTSE100,250,Dow,S&P - update 8
While we have 20/50 day moving average crossovers happening on all charts they are looking weak, with the exception of the Eurostoxx50. The 50 dma for the UK and US is still trending down. If there is to be further strength to the upside the 50 dma needs to start turning up otherwise a reverse is on the cards. The FTSE and Eurostoxx is still more positive as price remains above the MA's despite the recent down days. The US is still undecided which way to go as price and MA's are touching or slightly negative, but the 50 dma still looks weak. Futures today are indicating lower prices early on, so the next few days should tell us more, but the MACD indicator is suggesting that the market is currently overbought on daily charts and the current trend may be weakening. If the strength towards the upside on the 20/50 dma is maintained then MACD will probably reflect this by a weaker downside move before going positive again.
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For some reason this post seems to be quite popular, it regularly appears in the most popular all time posts. Perhaps people who come here click on it out of curiosity? As posts go, it's ok and of course it's good to see that readers are interested, but the other market updates are I would suggest just as interesting.
ReplyDeletePerhaps a bot has taken a liking to this one?