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Even though some of the widely watched US averages like the S&P 500 are still well below the April highs, some of the other world averages are doing better. The Dow Jones World Average is just 1.3% below its April highs and the chart looks strong. The major 61.8% resistance level stands at 248—not too far below last Friday’s close. Fibonacci projections using the March-to-June 2009 rally are at 265. There is first good support at 228-230.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.
