What Moscow and March 12th Have in Common

Some facts on Moscow according to Wikipedia:

• Moscow ( /ˈmɒskaʊ/ or /ˈmɒskoʊ/; Russian: Москва́, tr. Moskva; IPA: [mɐˈskva] ( listen)) is the capital, the most populous city, and the most populous federal subject of Russia. The city is a major political, economic, cultural, scientific, religious, financial, educational, and transportation center of Russia and the continent. Moscow is the northernmost megacity on Earth (but not the coldest), the most populous city in Europe, and the fifth largest city proper in the world. Its population, according to the results of the 2010 Census, is 11,503,501.^[8] Based on Forbes 2011, Moscow had 79 billionaires, displacing New York City as the city with the greatest number of billionaires.^[13]
• In January 1905, the institution of the City Governor, or Mayor, was officially introduced in Moscow, and Alexander Adrianov became Moscow’s first official mayor. Following the Russian Revolution of 1917, on 12 March 1918^[21] Moscow became the capital of the Russian Soviet Federative Socialist Republic and of the Soviet Union less than five years later.^[22] During World War II (the period from June 22, 1941, to May 9, 1945 known in Russia as the Great Patriotic War), after the German invasion of the USSR, the Soviet State Defense Committee and the General Staff of the Red Army was located in Moscow.

Below are two Daily charts of the Russian Index. After Monday's trading, price closed, once again, just above the 1700 major resistance level. Additionally, the 50 sma is nearing a Golden Cross above the 200 sma. However, as there are negative divergences on the RSI, MACD, and Stochastics indicators, it is not yet clear that 1700 will hold as support...a Global index worth watching over the coming days/weeks, since it is also one of the BRIC countries, which were the subject of my post on February 27th.

With respect to the BRIC indices, I would also note that a Golden Cross has occurred in the past couple of days on the Daily charts of India's Bombay Index and the Emerging Markets ETF (EEM)...also two to watch to see if this bullish moving average cross holds. China's Shanghai Index is still trading in a range in between the 50 and 200 smas (which are still in a bearish Death Cross formation)...I'll be watching to see what their Foreign Direct Investment numbers show when the data is released Tuesday night...the prior month's data released on February 15th showed a big drop into negative territory...another index to watch, particularly with respect to the latest data released last Friday night showing a huge drop in their Trade Balance for February, as mentioned in my post of March 10th.