Is the Golden Cross a Signal of a New Bull Market or Simply Media Hype?


A surprising quantity of digital ink has been spilled over the GOLDEN CROSS, which is the media’s favourite elementary faculty technical indicator. With it, they present that the 50-day transferring common has crossed above the 200-day transferring common, and by golly, that has at all times meant, 100% of the time, {that a} new bull market has began. I’ve seen this announcement numerous occasions this week.

S&P 500 Price Chart

Effectively, I’d not less than prefer to level out that the easy transferring common did that. Nonetheless, I want to observe the exponential transferring averages, thanks very a lot, and no such crossover has occurred, though it’s terrifyingly shut.

I’m not likely hung up on indicators anyway; you in all probability have found out since I seek advice from them not often. However I not less than wish to lodge my criticism in opposition to the common chatter that, by gum, the golden cross is an indication from God almighty that the bulls will get yet one more extension on their ceaseless government-funded bull market that began in early 2009.

SPX Price Chart



Source link

Related articles

Calumet declares sturdy yr regardless of challenges By Investing.com

© Reuters. Calumet Specialty Merchandise (NASDAQ:) Companions, L.P. (NASDAQ: CLMT) mentioned its fourth quarter and full-year 2023 monetary outcomes, revealing a plan to transform from an MLP to a C-Corp in...

How a TikTok clip led demand for 177-year-old sourdough starter to rise | Sourdough

“There’s an previous pioneer custom” courting from the earliest days of the colonisation of the US west, says Mary Buckingham, “that you just shared your bread starter with anybody who requested.”Which was all...

Dogecoin Falls Out Of High 10 Crypto, Are Meme Cash No Longer A Menace?

Dogecoin has seen abysmal efficiency within the final yr, even whereas the likes of Bitcoin and Ethereum went on to hit new yearly highs. On the again of this poor efficiency, different altcoins...

Canadian greenback weakens vs. USD as spreads, Financial institution of Canada bets show a headwind By Investing.com

© Reuters. Investing.com - The misplaced additional floor in opposition to its US counterpart at this time, and with the buck gaining roughly a 3rd of a % vs. the loonie for...

A Market of Lady Influencers Managed by Mothers and Stalked by Males

The ominous messages started arriving in Elissa’s inbox early final yr.“You promote pics of your underage daughter to pedophiles,” learn one. “You’re such a naughty sick mother, you’re simply as sick as us...
spot_img

Latest articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here