In July 2012 Albert Edwards, the closely followed investment strategist at Société Générale, warned that the S&P 500 was “on the verge of an ultimate death cross,” foretelling imminent major losses for the stock market, with the S&P 500 possibly seeing its index halved to 666 points.  The ultimate death cross occurs when the 50-month moving average of the S&P moves below the 200-month moving average, or put another way, when the difference between these moving averages – the spread – becomes less than zero.
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