Alpha Cubed Investments CEO Todd R. Walsh Was Recently Quoted in CNBC
- News
- Nov 2, 2023
- 1 min read
Alpha Cubed Investments CEO Todd R. Walsh was recently quoted by CNBC discussing the possible technical condition known as a “death cross” on the DJIA Index. Here is an excerpt below:
“The Dow Jones Industrial Average is nearing a point that can signal investors are bearish, the latest example of how outperformance among major technology names is masking an otherwise weak market.
The blue-chip index’s shorter-term, 50-day moving average is nearing its longer-term, 200-day moving average. If the two cross over, it would form the dreaded ‘death cross,’ which can indicate that momentum is weakening or sentiment is souring — and more downside could be on the horizon. It would be the first death cross for the average since late 2022.
‘It is not a primary indicator, but of course is not a good situation in the short term,’ said Todd Walsh, chief technical analyst of Alpha Cubed Investments. ‘It does not always accurately predict lower markets, but it is definitely a red flag and a cautionary input.’
Alpha Cubed’s Walsh said a recovery in the blue-chip index is tied in part to the Federal Reserve. The index could rebound if the central bank, which is widely expected to keep interest rates steady at its Wednesday meeting, signals it will become more data dependent when setting monetary policy. If not, he said to expect more volatility ahead.”
