| February 23 THE Battle of the Alamo started today in 1836 - "180 were challenged by Travis to die, by the line that he drew with his sword when the battle was nigh, any man that would fight to the death cross
over but him that would live better fly, and over the line went 179"- Johnny Cash.
The Dow also finally trespassed below the "Death Cross
" of its 50- (24,981) and 200-day (25,059) moving averages as of yesterday, joining both the S&P and NASDAQ on that moribund list.
On closing basis, the KSE 100 Index has entered a 'Death Cross
' (50EMA penetrating below 200EMA) and further downside for the KSE 100 Index cannot be ruled out.
I expect it to violate several key uptrend lines and the death cross
has now happened.
To guide us through these murky waters, we welcomed Hussein Sayed, chief market stratgist of FXTM, in to the studio, to talk everything from the death cross
, price predictions, volatility, fundamental factors that are driving the value, and whether cryptocurrencies could one day be influential enough to cause a global economic meltdown.
More from Bloomberg.com: Death Cross
Forms in Dow Industrials Down 5% Since Record High
The formation, known as a death cross
, last occurred on Aug.
Make sure you check out yesterday's article (http://www.aapltrader.com/aapltrader-blog/apples-death-cross/) The Apple Death Cross
Futures also formed a so-called "death cross
" yesterday when the 100-day moving average fell below the 200-day mean, a signal for investors to sell contracts.
The 20-day moving average crossed below the 200-day moving average for the first time since 2009, forming what some analysts call a "death cross
", but others said gold is facing a lengthy consolidation phase rather than a bear market.
On Friday 50-day moving average of Wall Street's S&P 500 index broke below the 200-day moving average, a break known as the 'death cross
' that points to more selling pressure ahead.
It provides many examples of ways to engage "out of the box" thinking and problem solving and Johnson's "death cross
" tactic of picking stocks will appeal to finance mavens.