As markets attempt to return to normalcy, recent trading action has been mixed.
According to data compiled by Yahoo Finance, the S&P 500 (^GSPC) is up two straight days with 85% of components in the green. Still, the benchmark index has formed a “death cross” technical pattern — a bearish analysis in which the 50-day moving average crosses below the 200-day moving average.
This often signals the potential for a major sell-off or downward trend.
Meanwhile, the US bond market and the dollar (DX=F), which aggressively sold off last week, have been consolidating recent moves with Wall Street’s “fear gauge index” (^VIX) briefly dipping below 30.
Bitcoin (BTC-USD) is edging higher in early trade, trading just below $86,000 a coin. Gold (GC=F) continues to surge above $3,200 an ounce, trading at record highs.
