BEHIND THE MONEY: Bow Down To The 'Golden Cross' and Buy
It sounds like something out of "Monty Python and the Holy Grail," but it is actually a technical analysis indicator with a stellar track record.
The Golden Cross, when the 50-day moving average for a security crosses above the 200-day moving average, occurred to the S&P 500 on Tuesday. FM trader Tim Seymour mentioned this on the show last night and said that it is "one thing to watch and part of an overall bullish recipe for July." Seymour notes that this special signal has also confirmed upward trends with copper and a few other resources.