The Dow just flashed a widely followed technical buy signal, suggesting more gains in the future
The Dow Jones experienced a death cross on March 23 amid the coronavirus-induced market sell-off, the same day stocks bottomed.Since March 23, the Dow Jones the has risen by 47%, which highlights that these buy and sell signals are lagging indicators and often throw off false signals, also known as whipsaws.suggests that the golden cross has a success rate of 60% to 64%.
The average three-month return when stocks were higher after a golden cross was 7.33%, while the average return six months after the golden cross was 10.65%.
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