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"Golden cross" - another bullish price action signal for stocks

Golden Cross

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Shares around the world have come to power today, as the world's second-largest economy has helped to curb worries about shrinking global growth. Ten-year government bond yields jumped most since January.

The S & P 500 closed at its highest level since October, while the Dow Jones Industrial Average won the most since February 15. Lyft's shares fell below the CPI as analysts noted the uncertainty surrounding the company's growth plans.

The S & P 500's golden cross means "that mid-long and long-term sentiment in the stock is turning to bullish," said David Russell, vice president of TradeStation. "This model of technical analysis is not noticeable often."

Source: Bloomberg Finance L.P.

Chart: Used with permission from Bloomberg Finance L.P.


 Trader Aleksandar Kumanov

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