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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