The S&P 500 just sent what most traders view as a bullish signal, what is it you ask? A golden cross, which is often seen as a bullish indicator signaling that a significant move higher could follow. So, precisely what is the golden cross. A golden cross is when the 50-day Simple Moving Average (SMA) crosses above the longer-term 200-day SMA. When a short-term simple moving average crosses over a long-term one, it's often a signal that bullish momentum is ramping for the stock. Because long-term simple moving averages take a lot more time to influence, traders can use this to calculate a stock's relative strength. The higher the time period used, the stronger and longer-lasting the breakout tends to be. All three major indexes will end the week in positive territory with the aforementioned S&P 500 posting a +1% gain for the week. The DOW is looking to squeak out positive week standing at roughly +.4%, and the NASDAQ is by far the standout of the week with a gain +3% and a record high of 10,578.10. The US dollar and crude oil will bot end the week in negative territory with weekly losses of -.6% and -.2%, respectively. On the flip side of the coin, gold and Bitcoin will both post weekly gains of +.7% and +1%. Key Levels To Next Week: S&P 500 (CME:SP500): 2,999.74 Dow (INDEX:DJI): 24,971.03 NASDAQ (NASDAQ:COMP): 9,663.61 U.S. Dollar (ICE:DX): 97.73 Gold (NYMEX_GC.Q20): 1,821.20 Crude Oil (NYMEX:CL.Q20): 40.99 Bitcoin (BITCOIN:BITSTAMPUSD): 9,798.76
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