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The Nasdaq Goes Golden

  In July, pundits heralded the collapse of the market due to the dreaded "death cross", a pattern in which the 50 day crosses below the 200 day moving average. Since then, the S&P and NASDAQ are up 4%.  Today, the QQQQ 50 dma crossed back over the 200 dma in a "golden cross" formation, a bullish predictor of brighter days ahead. I'm going to call this new pattern, the "double cross", as I am sure the bears are feeling as they retreat back into their caves.

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