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Today in the S&P500 we witnessed an occurrence akin to spotting a bald eagle which only happens once in a blue moon or so - The Golden Cross!
THE GOLDEN CROSS
The "Golden Cross" aside from being the polar opposite of its evil twin the "Death Cross" is best described as follows:
On a daily chart of the S&P 500 (SPX.X)($SPX) the 50 period Simple Moving Average crosses above the 200 period Simple Moving Average.
That's it? Yes. Is it a big deal?
Let's look at the statistics and then you can arrive at your own conclusion. Since 1950 the "Golden Cross" has appeared 31 times. The evil twin "Death Cross" (50 Period SMA drops below 200 Period SMA) has shown up 32 times. I don't want to spoil your numeric joy ride but let me say this -
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