The Nasdaq Composite joined recent rallies in other U.S. stock markets with its own "golden cross" during the first week in April.
Here's what that term means:
When the short-term moving average (usually 50-day) of an index or security crosses above a long-term moving average (usually 200-day).
Investors have typically viewed this as a bullish sign that gains will continue.
Since 1980, the Nasdaq has experienced a "golden cross" 16 times and the index has continued higher 75% of the time, according to a CNBC analysis of Kensho, which provides a trading analytics tool used by Wall Street banks and institutional investors.
On average, the Nasdaq was up more than 2% a month later. The S&P 500 also performed well in that one-month period.
Since the Nasdaq hit the golden cross last Wednesday, it has continued higher, up 0.87% over the past five trading days since last Thursday and positive in three of the five trading sessions.