Well, after the last few days of fresh Eurozone worry of old issues, the 20/50 dma crossovers are now looking under pressure with price on most of the charts challenging the 50 dma support. It should be remembered that as the moving averages, like all indicators are lagging, it will take a while for this to be reflected on the charts if the move to the downside is more serious.
FTSE100 may have had a double top failure at 5700 recently, a hurdle it is struggling to get over. 5700 hurdle appears to be the new 6000 for the FTSE.
Interesting, but the UK TechMARK index is now looking the most healthy with price not yet in breach of the 20 dma.
The US charts have the look of a scissors effect on the dma's and are seriously under pressure. The S&P also showing a double top, indicating there may be more downside to come.
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| FTSE100 |
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| TechMARK |
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| Eurostoxx50 |
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| Dow |
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| S&P500 |
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