Don't fear the "death cross," Ritholtz Wealth Management CEO Josh Brown said Tuesday.
"The old wives' tale is it signals a change in trend. And while that may be true, turns out if you're a trader with more than a 15-minute time horizon, not particularly relevant," he said. "There's no signal here."
A death cross occurs when a stock or index's 50-day moving average trend line dips below its 200-day moving average.
The bearish indicator appeared Monday in the Russell 2000, but most investors would do well to ignore the data point, Brown said.