Global Averages Deteriorate
06/10/2010 10:06 am EST
Though the short-term action in the US stock market does favor a rally and possibly a resumption of the uptrend, global stocks look more negative. The leading US averages still show a series of higher highs and higher lows, while the Dow Jones World Stock Index has broken decisively below the September and February lows. The 50- and 200-day MAs are still positive, but this could change in the next week or two. A 10% rally would take the index back to the 200-day MA.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.