An aside, interesting because it does not occur that often is the dead cross of the 50day EMA of the 200 day EMA on the S&P. This has just occurred this week on the S&P500. Though it has no real forecasting capabilities by itself, anecdotally the index either recovers (ie, a golden cross):
i ) within a few weeks with some possible consolidation before the next leg up,
OR
ii) if it cannot recover in a few weeks, the index goes into a much longer term period of consolidation or turns bear - both periods lasting months to years.
Dead Crosses going back to 87 have only occurred 7 times:
Jan 08 till ??
Oct 2000 dead cross lasted until May 03 golden cross (bear market)
Oct 98 dead cross lasted 3 weeks while index traced out a double bottom
dEC 94 - lasted 4 weeks (end of consolidation phase - part of a broader basing phase - before bull market run)
aPRIL 94 dead cross lasted until Aug 94 golden cross (index ranging for most of 94 caused the dead cross)
Aug 90 dead cross lasted until Feb 91 golden cross (bear market)
Oct 87 dead cross lasted until Oct 88 golden cross (bear falls followed by basing phase)