After good upward moves over the last few trading sessions, the markets are now looking more positive towards the upside, the 20 and 50 day moving average looking more bullish. The 20 day MA is now firmly heading towards a crossover on all charts shown which may well happen sometime this week. There is a likelihood of a pullback in the markets over the next few days, profit taking, but unless it is major it isn't likely to halt the current trend towards further upside. Another positive on the charts is that price is now above the MA's, the first hurdle to be crossed for a sustained upward move. The final chart is the Eurostoxx50 which shows the 20 touching the 50 and about to cross.
It's possible for the current trend to reverse as no crossover on any of the markets covered has yet been achieved, but this needs to happen fairly soon and in a fairly dramatic way, i.e. a big reverse for the previous downward trend to continue.
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| FTSE100 |
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| FTSE250 |
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| Dow |
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| S&P |
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Eurostoxx50
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