The S&P 500 is on the verge of flashing a closely watched 'golden cross' that suggests more upside ahead
The stock market is on the verge of flashing a closely followed technical buy signal that suggests more upside ahead for equities.rising 50-day moving average was just 26 points below its falling 200-day moving average on Tuesday. With the gap between the two averages falling by about eight points per day, the S&P 500 is on track to flash a golden cross by the end of this week, barring a big sell-off between now and then.
The indicator can help alert traders to securities in the stock market that are solidifying their uptrend and are likely to experience a continuation with higher stock prices. The opposite signal to the golden cross is the"death cross," which is a sell signal that triggers when the 50-day moving average crosses below the 200-day moving average. The S&P 500 flashed a death cross in March of last year, and the index subsequently went on to fall another 16% at its low.
He found that on average, stocks were higher three months after a golden cross 62% of the time, and higher six months after the golden cross 64% of the time.
France Dernières Nouvelles, France Actualités
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