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[Woody]

Combine a cross with a break of key support or a major trendline and it can mark a LT Top or bottom, you can see not many signals over the last 7 years.

Trick here too is that a kissback can mark a good buying opp........to me this looks more like a correction, and you can have a whipsaw like 1998

Look at a daily on the $FTSE, 6000 level looks real important.

Also below a chart of SPX it has only a minor whip in 1998 otherwise reliable signals, there 1360 looks like a key support

http://stockcharts.com/c-sc/sc?s=$FTSE&p=W&yr=9&mn=6&dy=0&i=t62864580263&r=5785.png

http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=9&mn=6&dy=0&i=t88301060430&r=6520.png

[Woody]

Whoops, FTSE down over 4% to 5858 unless there is a big turnaround in NY then looks like we'll get that cross......fugly