S&P 500 Sends Bullish Technical Signal With Golden Cross
- Index’s 50-day average crosses above 200-day average
- Wouldn’t rely on golden cross as standalone indicator: Sundial
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The S&P 500 is sending a technical signal that has marked the end of every bear market in modern history.
The benchmark’s 50-day moving average broke above the 200-day line on Thursday for the first time since the depths of the selloff in late March, forming a so-called golden cross. The price pattern is seen by some technical analysts as a positive omen as it frequently precedes sustained rallies.