The Nasdaq Composite joined recent rallies in other U.S. stock markets with its own"golden cross" during the first week in April.When the short-term moving average of an index or security crosses above a long-term moving average .
On average, the Nasdaq was up more than 2 percent a month later. The S&P 500 also performed well in that one-month period. Stocks already have rallied off their late December lows in 2019, a bullish period attributed primarily to the Federal Reserve pause in interest rate hikes and building investor optimism for a trade deal between the U.S. and China.
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