This is a classic bullish signal. Although some disagree with this due to the fact that moving averages follow prices, rather than the other way round...
Research shows that on average, after a golden cross occurs the S&P500 has gained >11% 12 months after. I think that if this does come to fruition, we will still see some downside as a correction to the current rally.
Research shows that on average, after a golden cross occurs the S&P500 has gained >11% 12 months after. I think that if this does come to fruition, we will still see some downside as a correction to the current rally.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.