It isn’t there yet, but stock-market bears and nervous bulls are keeping watch as the Dow Jones Industrial Average nears a so-called death cross.
A death cross occurs when the 50-day moving average, viewed by technicians as a proxy for an asset’s short-term trend, falls below the 200-day moving average, a proxy for the longer-term trend . Of course, technical patterns need to be confirmed to send a signal. But the move is “ery much worth watching as the 50-day moving average line is just 0.5% away from the 200-day trend line” after Friday’s close, Rosenberg wrote.
The Dow’s most recent death cross occurred on March 8, 2022. A month later the Dow was up 6.4%, while a year later it had gained 0.5%, according to Dow Jones Market Data.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »