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Home / Business / Dow stands less than 750 points shy of a record, as a golden cross form in the blue-chip benchmark

Dow stands less than 750 points shy of a record, as a golden cross form in the blue-chip benchmark



On Tuesday, the Dow Jones Industrial Average appeared to expand a bullish turn that saw it record four consecutive gains, giving the index less than 800 points from the October record. Last, Dow

DJIA, + 0.41%

was up 173 points, or 0.7%, to 26.086, from Thursday. On October 3, Dow hit a record of 26,828.39, with the current level making it about 745 points short of that level. The Blue-chip gauge rally, with a fifth straight day, has also formed a bullish gold cross, where its 50-day moving average crossed the 200-day moving average, a feature often considered by market engineers as a bullish sign an asset. Dow's 50-day stand is 25,1

80.51, while the 200-day stand is 25166. The bullish cross comes 60 sessions after a bearish death row occurred on December 19. The last golden cross occurred on April 19, 2016, which was 66 sessions after a death cross had occurred. Meanwhile, the S&P 500 index is

SPX, + 0.44%

was up 0.6% to 2.851, while the Nasdaq Composite Index

COMP, + 0.50%

advanced 0.7% at 7.766.

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