Global Averages Deteriorate

06/10/2010 10:06 am EST


Thomas Aspray

, Professional Trader & Analyst

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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 The views expressed here are his own.

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