This week saw The Dow encounter its first “death cross” – when the 50-day moving average crosses below the 200-day moving average – in 4 years. The indicator, often used to signal trend changes (down in this case) has yet to be witnessed in the S&P 500 though, but has been a useful signal at major market turning points in the past (e.g. late 60’s, early 70’s, the dot.com crash and recently the GFC).