The last time we saw the contrary 'ultimate golden cross', was in the mid 1960s I believe. So, its been almost FIFTY years since we've seen the 50 MA below the 200 MA.
I suppose the doomsters could call it one of the key signs that the 'American/Western economy Golden Age' is coming to an end. For the moment, all I know is that the printing maniacs are still out there on the loose, and are ready and waiting to pump asset prices right back up.
Sp, monthly, 6yr
sp, monthly, 20yr
Stockcharts only go back twenty years, but you can clearly see, the 50 MA has always been above the 200MA, but is now a mere 6.57 pts away.
Summary
Even clown channel (CNBC) did a feature on the 'ultimate death cross' today (dare I cite them?)..take a look anyway....
When will the death cross occur ?
Even if we fall to sp'1200/1150 by the end of August/early September, the very slow moving monthly averages might not cross for some months to come. It might take as long as October, and even then..if the Bernanke has initiated QE3 - with a strong market ramp, then the cross might not occur at all this year!
Anyway, its something to keep in mind, each time you see one of the monthly SP' charts on these pages.
Goodnight from London