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A ‘golden cross’ has formed in the Dow Jones Industrial Average

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A golden cross formed in the Dow Jones Industrial Average
DJIA,
+0.68%
,
more than five months after a bearish chart pattern materialized in the aftermath of the carnage wrought by the COVID-19 pandemic.

A golden cross occurs when the 50-day moving average for an asset price trades above the 200-day MA, while a so-called death cross, comparatively, is when the 50-day falls below the long-term average.

On Thursday, the Dow’s 50-day stood at 26,251.34, and the 200-day moving average was at 26,229.91, according to FactSet data, marking the first time the short-time moving average has punched up above the longer-term average since March 20,…



Source marketwatch.com

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