Wall St ends down as investors await Fed's next steps

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The golden cross could provide a bullish signal, usually shines when associated with recessions - BofA

February 6, 2023 9:01 AM EST

In a research note last Friday, BofA's Stephen Suttmeier said that the "golden cross" could provide a bullish signal for US equities.

A "golden cross" is a bullish technical signal that occurs when the 50-day moving average (MA) moves above the 200-day MA.

"On 2/2/2023, the S&P 500 (SPX) triggered its 49th golden cross since 1928. SPX returns after a golden cross are the... More