The UK markets seem to be in wait and see mode again as they digest yesterdays reflationary measures by the central banks. More important from a news flow perspective is the US change in Non-Farm Payroll and unemploment rate due in later today. If these come in worse than expected we could see a sell off. How big will depend on how much worse than expected and how the US responds. If they are better than forecast then the FTSE could easily pass the 5700 mark (not that difficult as it is only 17 points or so away at time of writing) and the 20/50 day ma's could be seeing some clear daylight to the upside. To be really positive the 50 day MA needs to start trending up now that we are seeing the crossover.
Still everything to play for, but bears need to see a pretty quick reverse of these MA's if we are going to see more downside soon.
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