In after hours trade the ASX 200 (SPI) is testing the trend line drawn from the October low. A sustained break below today's low and the trend line would lead to a bearish triple moving average cross. A similar bearish triple cross formed in late August at the top left hand corner of the chart.
Thursday, 1 March 2012
In the past 24 hours the S&P 500 (SPX) broke above the 2011 high by 2 two points, before completing an outside reversal day / bearish engulfing pattern. It is testing the trend line that has supported all price action in 2012 so far.