‘Golden cross’ for stocks doesn’t always glitter

that many investors believe could portend more gains for stocks in the short term, known as the golden cross.

Other major indexes, such as the S&P 500 and Nasdaq , have moved closer to a golden cross as stocks continue to rally off their late December lows, buoyed by a Federal Reserve pause in interest rate hikes and building investor optimism for a trade deal between the U.S. and China. The Dow last triggered a golden cross on April 19, 2016 and closed out the year 9.5 percent higher from there.Still, the golden cross is far from a bulletproof signal. According to Sam Stovall, chief investment strategist at CFRA Research in New York, using a “golden cross” strategy yielded a lower return than the compound annual growth rates for the Dow and smallcap Russell 2000 index since 1990.

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