S&P 500 higher than golden cross..first time NICE !!!!

S&P 500 has achieved golden cross for the first time since this rally started back in March.....this is an important development as to the direction of the market...S&P 500 golden cross is an important step towards confirming an end to the bear market.....S&P 500 reflects the broader equity sentiment......Golden cross is 50 DMA is higher than 200 DMA .... its trading HIGHER than 50DMA today for the first time !!!!

Golden cross generally results in a rebound lasting 49 months and returning 149%...not bad for next 4 years scenario.......only 17% of the gain come before golden cross..this is from "trough to peak gains" as per 14 previous historical sequence.....

S&P 500 50DMA 900.69

S&P 500 200 DMA 897.23

S&P 500 last trade 906.50..high today is 910.85

In my portfolio :

Added 40% more PMCS ..it is rated for a "breakout @ $8.48 with a target of $9.82" by www.stockconsultant.com

Portfolio is MRVL,PMCS,SOL,TLM

Market got a boost from OECD which is predicting end of recession & moderate growth going forward.....

Durable goods came in better than expected......

Plus markets were oversold to support level.....Nasdaq maintained healthy technical picture even in this selling.....maintained golden cross....

GOLD,OIL & Canadian $ all are UP......

All sectors are participating in this rally...no matter what you have....generally it is UP....

Fed will show its card @ 2.15 PM..so expect volatility going into & coming out...then UPTREND !!!

BLOG does NOT give buy or sell.

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