 Hello and welcome to CMC Markets on Tuesday 26 April and the weekly market update. Now this week I'm going to talk about technical analysis indicator, the Golden Cross. Now Golden Cross is essentially when the 50 day moving average crosses above the 200-day moving average and typically it's seen as a very bullish indicator. Doesn't always work, however, and I'm going to be talking about it in the context of the S&P 500 Cŵn yw'r rai cyfrifILLau cychwyn i chi, mae'n gwybod ymwneud, y Cros Lywodraeth yn y USF 500 yn ôl ychydig fel y cyfrifillai ein ddalod ddiwch yn ddodd y smith, ac efallai y ddarllent ddolor yn oedod o waith i ni, mae hynny sy'n oeddi'r olig yn hollwch am gael y maen nhw, a edrych eich lefel fy mor gweithio yma yn ffasg yourselveson, yn ôl y maen nhw, yn gweithio ar y dyfodol. Rydyn ni wedi bod yn gwneud y webinar, y gweithio'r webinar, gyda gweithio'r gweithio ar y gweithio'r gweithio, yn ddigon yma ar 3 pŵr, ac y cyfnod ar gyfer y CMC Markers' website. Dyma'r ddigon yma'r gweithio'r gweithio. Felly yna'n gwneud y gweithio'r gweithio'r gweithio'r Gwlderyn Cros, ond rwy'n credu'n mynd i gydigol y gallwn cyfnodol When people see this pattern or event happening, that they act in the right way. Ultimately if you'd acted upon this golden cross in December, you would have lost money. It was a false signal. I think part of what I'm hoping to show you today... ...is when to be cautious about this indicator... ...and also to understand why this indicator has worked in the past. Ermai. We'll start a very long term Bloomberg daily chart, and on this chart that I've got in front of me right now, we've got a simple line chart since 2011. It's got a 50 day and a 200 day moving average on it. We can see at the very beginning of the chart, just around about the beginning of 2012, we can see the 50-day moving average crossing above the 200-day moving average. The 200-day moving average, which is the green line, appears fairly flat, but it is starting to move higher, whereas the faster moving line, the 50-day moving average, is starting to accelerate higher. If we now move forward a little bit further, and look at our next chart, we can see that from this chart there is a significant difference in the gradient of the moving averages. Rwy'r cwestiynau sydd wedi gweithio i'r cwestiynau ddweud yn maen nhw'n gweld eu gwahol, a gweithio i'r cwestiynau i'r gwahol oherwydd yng Nghymru Cymru sydd wedi gwneud yn gweithio'r cwestiynau, a'r sefydliadau cymryd y chondol, maen nhw'n cael ei wneud yn ddiwedd i'r holl yng nghymru, y gallwn yn cystafell yn gyffredin o'r cwestiynau, yn y cwestiynau, ychwanegwch o'r 50-dag ymlaen i gael y 200-dag ymlaen. Ond mae'n gweithio'r 200-dag ymlaen i gael y blwllain. Mae'n gweithio'r ymlaen. Mae hynny, mae'r gweithio'r momentum yn holl yn ystod prydogonol a'n mynd i'r bobl gwneud a mae'n cael ei fod yn ystod yma yn ymlaen i'ch cyddiadau deulu o'i cyddiadau iechyd i'r gyffredinol. Rwy'n gobeithio'r cyddiadau iechyd hynny o'r cyddiadau yn gallu ddigwau yng ngotypesu propos mae grwlla a'u gy Penom yn y tuin cheif, gofio o'r 50-day iechwyn nifer wrthy oherwydd meddwl grannu wedi cael correspond參ysgiant yve ac mae grannu mheint Women iniauol yn ei wneud ac mae hynny hyd o gyfar jedes o'r drynater ac mae'r ystafell tranquu ac mae ddåw wedi gosed sut cael grundedd. the break of a previous high and we didn't get a break of a trend line resistance. Moving on, further over to what we have got here in April, again, we've got this Golden Cross. Will this Golden Cross be any more successful than the one in December or be as successful as the one that we saw in 2012? Quite simply, we don't know, but what I can tell you is we haven't broken above the a ydych chi'n edrych yn fwyfyrgynious â nhw. Fy照, y peth 2-800 o bobl yn cyfrifiadau o'r cyfrifodau rhaid dig, yn yn cyfrifodd a'n cyfrifodd a rhaid i ni'r rhaid i ni. Felly mae'r difrif mwy iawn hynny oherwydd gan lle'r cyfrifodd a'r cyfrifodd pan i ni bwysig i'r cyfrifodd, wrth gwrs, yw'r cyfrifodd driol, oherwydd dily'r cyfrifodd ac yn cael cyfrifodd yn y Department of theistau. Da chi'n ddim yn fwyfyrdd â'r char o'u cyfrifodd ar y llaw, a we're going to look at this Bloomberg chart and how we got the break higher in the Golden Cross in 2012. And as we can see from this chart on the analysis that I've drawn on this particular breakout, we had a break of a trend line from the 2011 highs. We had a clearly defined uptrend coming in from the lows that we saw in 2012. 2011, 2012, and we also got subsequently the Golden Cross crossover in the wake of the break above the highs that we saw in the middle of October 2011. So we got a trifector of events take place along with the Golden Cross that suggested that we were going to go and push higher. And ultimately that's what you need. The Golden Cross all by itself is not sufficient for a trader to draw the conclusion that the market is going to suddenly spike higher. Okay, so to finish up, we are going to look at a cable chart. Now this is a chart that I looked at a few weeks ago. I talked about the inverse heading shoulders. I talked about the left and right shoulders around about 140.5, 140.80. We've managed to hold above that. We've now broken above the neckline that came in around about 144. We've broken above the 100-day moving average at 144.50. That does appear to suggest that we could well see further gains in cable now towards 147 and 148 over the course of the next few days and weeks. So that's it for this week. Just a quick recap about the Wednesday pre-FOMC webinar at 3pm. You can sign up to that on the website. Otherwise, thanks very much for listening. This is Michael Huston talking to you from CMC Markets.