Well you are showing in your screen shot a 1 min chart of the cross so pretty meaningless... Normally you want to look at a daily chart for a Golden Cross and use the cross of the 50 and 200 day moving average.
No I don't put a lot of weight in it. You would do better and be more accurate simply using a 50 day EMA and wait for price to close above the 50 day EMA to forecast a coming rally in a market. The 50 crossing the 200 day moving average is a very lagging indicator. It will indicate a long term trend.
I know a lot of people like to follow the great and wonderful "Golden Cross" and is one of the reasons why a lot of people aren't successful trading stocks IMO.
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