Daily Report : The S&P 500 and dollar undergo trend changes; As tech indexes rally, participation starts to wane


  • Jason Goepfert

    Jason Goepfert

    Published: 2020-07-09 at 17:32:02 CDT

The S&P 500 has triggered a Golden Cross, with its 50-day average crossing above its 200-day average. That in itself isn't much of a signal, but this has reversed what had been a very negative spread between the 50- and 200-day averages. When this happened since 1950, it coincided with the end of every major bear market. At the same time, the dollar suffered a Death Cross.; Most major technology stock indexes have been hitting new highs in recent days. A small warning is popping up in the percentage of members of these indexes that are holding above their 50-day averages, which has been declining over the past month. This kind of divergence has preceded some rocky markets for tech over the next 1-3 months.


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