S&P500 Will Dow's Golden Cross be a life saver for S&P?

6 ธ.ค. 2022

The S&P500 got rejected just above the 1D MA200 [orange line] on the Lower Highs Resistance holding since Jan 2022. Contrary to that, Dow Jones not only has broken above its Lower Highs Resistance since Nov 10th but also made a Higher High above the August High, before getting rejected.

With a Golden Cross emerging on the 1D chart, Dow has high chances of bouncing on the former (Lower Highs) Resistance and establish it as a Support. This can be just whar the S&P500 needs to kick start its rally that breaks above almost a full year of Lower Highs.

Will it succeed?

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