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Thursday, August 11, 2011

S&P 500 chart triggers "DEATH CROSS"

S&P 500 chart triggers "death cross"

"NEW YORK (Reuters) - The S&P 500 <.SPX> triggered a key technical signal called a "death cross" on Thursday that could mean more negative moves ahead.

The benchmark's 50-day moving average dipped below its 200-day average in what technical analysts consider a sign that short-term momentum has turned more negative than long-term momentum and could show the current downtrend is pervasive. Both moving averages are currently heading lower."

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