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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Sunday, June 05, 2011

Moving Average X-overs...YM, ES, NQ & TF...

Below is a chartgrid of Daily charts of  YM, ES, NQ & TF. The falling 21ema (broken white) has now crossed below the rising 50sma (red). This crossover level could act as an important pivotal level in the days ahead.

I mentioned in a previous post that the 50sma has acted like a magnet over the past few weeks with price constantly swirling around it as profit-taking has been occurring just above: http://strawberryblondesmarketsummary.blogspot.com/2011/06/ym-es-nq-tfthe-attractor-factor.html.

This crossover is just another confirmation that the markets have been trendless since March of this year, and it remains to be seen as to whether this event has any meaning or not.