A rally in the S&P 500 on Monday resulted in a technical benchmark, known as a g...
NEW YORK - A rally in the S&P 500 on Monday resulted in a technical benchmark, known as a golden cross pattern, that could, if history holds true, indicate more gains in the near term.
Considered a bullish signal by chart analysts and other market watchers, a golden cross forms when an index’s near-term moving average of daily closing prices rises above a longer-term moving average. The S&P 500 index rose 1.16 percent on Monday, after closing out the first quarter on Friday with its best quarterly gain since 2009, boosted by optimism over recent trade talks between the United States and China.
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