What is the most fundamental rule of technical analysis?
Don't hold/buy when the index/share/whatever sits below the x day moving average.
I think the most conservative long term moving average is 200 day simple moving average.
Well, according to my Commsec chart, as of close of trade yesterday (Friday), our XJO is sitting convincingly below the exponential and a little bit below the simple 200 day moving average.
And, as more bearish follow-through, the xjo futures lost another 28 or so points overnight.
cause for concern?
Which other global markets are sitting below their simple 200 day moving average?
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