The Nasdaq 100 Index NDX, -1.63% chart is set produce a bearish "death cross" signal on Wednesday, for the first time in nearly two years. A "death cross" appears when the 50-day moving average (DMA), a widely followed short-term trend tracker, crosses below the 200-DMA, a longer-term trend guide. Many chart watchers view a death cross as marking the spot that a pullback transitions to a downtrend. The technology-heavy Nasdaq 100's 50-DMA is set to open at 15,054.01, down from 15,089.92 on Tuesday, according to FactSet, while the 200-DMA is set to rise to 15,093.37 from 15,089.91. Through Tuesday, stock charts of 50 of the index's components have produced "death cross" patterns. The last "death cross" appeared on April 30, 2020, but that was a little more than a month after the index already closed at its COVID-19 bottom of 6,994.29 on March 20, 2020. That "death cross" was erased three weeks later with the appearance of a "golden cross," in which the 50-DMA rose back above the 200-DMA. The last "death cross" before that one appeared Dec. 3, 2018, and the index fell another 16% over the next three weeks before bottoming. The Nasdaq Composite COMP, -1.59% is currently under the influence of a "death cross," but the S&P 500 SPX, -1.55% and Dow Jones Industrial Average DJIA, -1.76% aren't, yet.Click Here To Get Funded!