iShares S&P 100 Index (OEF) flashed the golden cross (50-day moving average rises above 200-day) signal.
The yellow price bars indicates a lack of outperformance vs. SPX.
S&P 100 Index is comprised of 100 major, blue chip companies across multiple industry groups.
Blue chips showing more strength than the broader S&P 500? SPY hasn’t flashed a golden cross yet.
The golden cross is a good filter to help narrow down the field. From there, traders should apply the Seven Steps to Better Stock Trading. For example, it is important to determine if there is a trend. One way to do it is to apply a swing indicator and look for a pattern of higher highs and higher lows. Better yet, just use my Total Indicator for eSignal. It’s free!