Stocks Just Hit Rare Golden Cross For 1st Time Since 2023 — Here’s What It Means For Investors

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

The S&P 500 and Nasdaq 100 indices have formed a “golden cross” on their charts, indicating the possibility of a “long-term bull market,” according to the experts.

What Happened: According to an iShares MSCI World ETF (NYSE:URTH) chart, tracking the MSCI World Index shared by Barchart, global stocks have formed a “Golden Cross” for the first time since January 2023.

This comes as the SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, also formed “golden crosses” on their charts.

Last time, when URTH formed a golden cross, where the 50-day moving average surpasses the 200-day moving average, the returns rose to 43% over the next two years.

Trending: GoSun’s Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Become an Investor in This $41.3M Clean Energy Brand Today

Historical data dating back to 1975 suggest that the formation of this positive technical indicator on the charts has led the S&P 500 index 88% of the time higher over the next year.

The average return after a “golden cross” was 12.29% in the last 50 years, as per the data shared by Subu Trade.

A portfolio manager at Revere Asset Management, Connor Bates, shared QQQ’s chart and highlighted how the securities have trended upwards after the formation of this cross in the last five years/

Meanwhile, Ed Yardeni of Yardeni Research said in his QuickTakes note that “those ‘golden crosses’ tend to be bullish breakout patterns, indicating the possibility of a long-term bull market.”

Source link

Visited 1 times, 1 visit(s) today

Related Article

Cash pouring out of a faucet.

The Smartest Dividend Stocks to Buy for $1,000 Right Now

Looking to get winning stocks on the cheap? Here are three you can buy right now and hold for the long haul. Dividend investing is a long-term game, and it can be highly lucrative. For dividend stocks, every share counts because they gradually increase your annual income until, eventually, it’s enough to cover your living

Bury paedophile who groomed and raped girl, 15, jailed

Bury paedophile who groomed and raped girl, 15, jailed

Police handout Suaiel Haider gave his victim lifts to school, food and cigarettes as well as plying her with alcohol before sexually abusing her A paedophile who groomed a young girl then sexually abused and raped her 25 years ago has been jailed for 14 years. Suaiel Haider, 43, from Bury, Greater Manchester, was 19

A Shiba Inu dog on a sofa.

Is Dogecoin a Buy Right Now for Just $0.17? Here Is What History Suggests.

Dogecoin’s price is approaching $0.20; history shows a clear pattern of what tends to happen around these price points. There are many different ways to invest in cryptocurrency. For those who want direct exposure, some of the more popular opportunities include investing in Bitcoin or Ethereum. By contrast, some may choose a more passive route

cardboard package delivery at front door

Prime Day Automotive Deals Under $50

“Hearst Magazines and Yahoo may earn commission or revenue on some items through these links.” It’s your wallet’s favorite time of the year—Prime Day. Amazon always puts tons of items on sale, and it can be hard to parse through and find the good ones. That’s why we’ve pulled together a list of Prime Day

Billionaire Stanley Druckenmiller Sold His Entire Stake in Palantir in Favor of a Smoking-Hot High-Yield Dividend Stock That’s Doubled in 15 Months

Quarterly-filed Form 13Fs allow investors to track the buying and selling activity of Wall Street’s leading money managers. Stanley Druckenmiller sent nearly 770,000 shares of Palantir Technologies to the chopping block — and it may have to do with more than just simple profit-taking. Meanwhile, Duquesne’s billionaire investor built up a greater than 1.1-million-share position

Simon Calder’s Travel

France warns against ignoring Iran travel advice following teenager’s disappearance

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email French authorities have warned its citizens to take government travel advice seriously after a French teenager went missing in Iran. Lennart Monterlos, an 18-year-old French-German citizen was on a bicycle journey

AI-powered humanoid robot pressing a virtual button.

The Hottest 10 Artificial Intelligence (AI) Stocks on the Market

This group of companies reflects most of the industry’s past, present, and future. There’s little doubt that artificial intelligence is here to stay. It’s just too game-changing to put back in the box now. In fact, we’ve only scratched the surface of its potential usage. Industry research outfit Precedence Research predicts the worldwide AI market

Oil and gas infrastructure in a desert setting.

3 Passive Income Powerhouses Down Between 9% and 39% to Buy in July

As the calendar turns to the second half of the year, some investors may be looking to boost their passive income streams from dividend-paying stocks at compelling valuations. Devon Energy (DVN -1.53%), APA (APA -0.59%), and McDonald’s (MCD -0.24%) are down between 9% and 39% from their 52-week highs at the time of this writing.

0
Would love your thoughts, please comment.x
()
x