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Bearish 'death cross' appears in Russell 2000 chart, first since just before December flash selloff


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Pitcher what do you think about this one?






A bearish "death cross" pattern is appearing in the Russell 2000's RUT, +0.45% chart Thursday, for the first time in about 11 months. Many technical analysts believe the pattern, in which the 50-day moving average crosses below the 200-day moving average, marks the spot a shorter-term decline transitions to a longer-term downtrend. The small-capitalization stock tracker's was up 0.4% in afternoon trading, with the 50-day moving average slipping to 1,521.94 and the 200-day moving average rising to 1,521.95, according to FactSet. The Russell 2000's last death cross appeared on Nov. 14. The index tumbled another 16% before bottoming at a 2-year low on Dec. 24. The current death cross comes about 5-months after a "golden cross" pattern appeared on May 7, which was a day after the index peaked at a 7-month high. Meanwhile, the S&P 500 SPX, +0.80% was up 0.6% on the day, and its 50-day moving average was still 3.7% above its 200-day moving average

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