A «golden cross» has not yet occurred, with the 50 - day
moving average still below the 200 - day, but such a
move appears likely in the next few trading sessions if
upward momentum can be
sustained.
You were saying just immediately come through in terms of bonus payments and some increase in wages, but they want to see on a
sustained basis and so, getting some of those wage indicators, average hourly earnings, things like that on an
upward trajectory, not as flat, but
upward trajectory over the next quarter or two, will actually give some sustenance to the Fed to actually continue to
move forward, which they likely will, but I am saying that's really what they are focused on in terms of that wage — in terms of that inflation metric.
However, as short term analysis reflects there are two support levels at $ 720 and $ 690 that look strong enough to
sustain falling prices and jumpstart another
upward move.