16/07/2012

FTSE weekly 22 weeks to compare with SP500 and DOW

Look at the first bar in the chart and you will see how high the FTSE must go to change the falling 21 week MA. You also see the very low 8 and 7 closes from the right to see the steep uptrend for the 8 MA. FTSE has the last two weeks closed above the 21 MA but that does not matter. I want to see a cross of the MA's. FTSE will not get very much higher without a cross first so it is in the same situation as SP500 and DOW. There are of course very much more to look at than the MA's behavior. Here for instance we have a weekly double close which gives a first warning of a possible downside move.

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