The Dow Jones Industrial Average climbed above its 50-day moving average in intraday trade Monday for the first time in a month. The Dow was up 335 points at 18,223, while the 50-day MA, which many chart watchers view as a guide to the shorter-term trend, currently extends to 18,216. The Dow hasn’t closed above the 50-day MA since Sept. 8. Since then, it rose above the 50-day MA intraday on Sept. 22 and Oct. 10, but pulled back below it before the close. The Dow hasn’t closed above its 50-day MA line for 42 sessions; the last time it stayed below that line that long was when it was below it for the 54 sessions ending Oct. 9, 2015. Back then, the Dow soared 1,073 points over the next month.
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From:: Stock Market News