The friendly trend Commentary: The 50-day moving average is well above the 200-day

And it sure became friendly earlier this month, following a correction that had many analysts wondering if the rally that began last March was over for good.
But on July 2, overlooked by us mere mortals but to great fanfare among trend followers, the Dow's 50-day moving average rose above its 200-day moving average. And, sure enough, within a couple of trading days the market dutifully reversed course. And it is now at a new rally high -- rising another 104 points on Monday alone. (more)