I’ve read some about the 50 day moving average crossing through the 200 day. I don’t consider this bullish as the 200dma is trending downward. If the market continues higher the 200 day will eventually turn upward. I am not sure that is going to happen. I expect a 15-20% move up from today’s close, but that may happen before the long term trend turns up.
I continue to guess at a test of the January high in early to mid-July. The 200 day moving average (not shown) is near the 1640 level.
Charts courtesy of Stockcharts.com
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