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Stocks Were Just Staged a Dreaded Death Cross


 -- Published: Thursday, 19 May 2016 | Print  | Disqus 

By Graham Summers

 

Smart investors have noted that the S&P 500 just staged a very dangerous looking move.


That move was when S&P 500’s 50-week moving average broke below its 100-week moving average. You can see this in the green circle below.

 

 http://goldseek.com/news/2016/5-19gs/image002.jpg

 

This move is called a “Death Cross” and for good reason. The last time it happened was in 2008, right before the entire market CRASHED.

 

 http://goldseek.com/news/2016/5-19gs/image004.jpg

 

The time before that was right before the Tech Bubble burst, crashing stocks.

 

 http://goldseek.com/news/2016/5-19gs/image006.jpg

 

In short, going back over 16 years, this Death Cross formation has only hit TWICE before. Both times were when major bubbles burst and stocks Crashed.

 

Best Regards

 

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 


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 -- Published: Thursday, 19 May 2016 | E-Mail  | Print  | Source: GoldSeek.com

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