WALL STREET WEEK AHEAD
JANUARY has turned out strong for equities with just two trading days to go. If you’re afraid to miss the ride, there’s still time to jump in. You just might want to wear a neck brace.
The new year lured buyers into growth-related sectors, the ones that were more beaten down last year. The economy is getting better, but not dramatically. But then there’s the golden cross.
Many market skeptics take notice when this technical indicator shows up on the horizon. As early as today, the rising 50-day moving average of the S&P 500 could tick above its rising 200-day moving average. This occurrence – known as a golden cross – means the medium-term momentum is increasingly bullish. You have a good chance of making money in the next six months if you put it to work in large-cap stocks.