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FA Center: Market’s ‘golden cross’ is not the heavenly sign for stocks the bulls would have you believe

Stocks don't perform better when the market's short-term moving average goes above its longer-term average. Read More...

Stock-market technicians celebrated last week when the Dow Jones Industrial Average DJIA and the S&P 500 SPX 10-day moving averages both crossed above their 50-day moving averages.

Technicians call this chart pattern a “golden cross.” Investopedia explains what it means: “The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside and is interpreted by analysts and traders as signaling a definitive upward turn in a market.”


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