The S & P 500 Index is set to connect to the market benchmarks that form the dreaded Wall Street…
The S & P 500 Index is set to connect to the market benchmarks that form the dreaded Wall Street Diagram: Death Cross.
Read: Bearish death crosses are emerging, this time in retail and technology
A death cross sets up in the S & P 500
with 50-day moving average at 2 763.56, on the verge of sliding during the 200-day moving agent of 2 762.08, according to FactSet data .
A death cross is what mappers refer to as the point where 50-day short-term trend traverses cross the 200-day, which are used to define the long-term trend. Many believe that the cross-marking is the point where a shorter term is in the long term.
Read: How a threatening S & P 500 death cross could chase away the stock market santa rally
Considering the S & P 500’s almost 2% nose dive on Thursday collapses in line with Dow Jones Industrial Average
and Nasdaq Composite