By Matthew McCall.

Stock market indices around the globe were hitting new 52-week highs in early 2010 and it appeared equities were ready for another strong year. Considering the big moves by stocks worldwide in 2009 as the global recession came to a close, the probability of a rally continuing into 2010 was not great. A pullback was more than overdue. It began to occur at last during the third week of January, after several political moves in the United States prompted investors to sell first and ask questions later.

Attempting to put political and other extraneous factors aside, the charts will, it is to be hoped, lead us to the future action of the world indices...

Excerpted from an article originally published in the Mar/Apr 2010 issue of YourTradingEdge magazine. All rights reserved. © Copyright 2010, MarketSource International Pty Ltd.

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