Market Headed for a "Golden Cross?"

At least it seems that way if we keep going higher.

The “cross” happens when the 50-day moving average rises above the 200-day moving average, signaling a continuing uptrend. 

“As of right now, the 200-day is at 1,257, and the 50-day is at 1,256, so it’s one S&P point away from happening. I think it will come, if you look at what the 50-day looks like,” said Birinyi Associates analyst Kevin Pleines.  

He said his analysis shows that when the 50-day crossed the 200-day in the 26 instances since 1962, the market was higher six months later 81 percent of the time. 

Wow 81% is a pretty good indicator. I am already net long the market and pared down my cash so this bodes well for me if the 50 day holds above the 200 day.