iShares S&P Global 100 (IOO): Death Cross
iShares S&P Global 100 (IOO) just flashed a death cross.
iShares S&P Global 100 Index Fund seeks investment results that correspond generally to the price and yield performance of the S&P Global 100 Index. The Index is designed to measure the performance of 100 large-capitalization global companies.
IOO is possibly setting up a head and shoulders pattern.
A key uptrend line starts all the way back March 2009.
If IOO breaks the neckline area the bears are telling us all is not well with the global economy.
The death cross (technical formation when the 50-day moving average drops below the 200-day) can be used as a filter to help narrow down the field. Next, use the Seven Steps to Better Stock Trading to evaluate the sentiment and price action. Better yet, sign up for The Select 20 Stock Picks or use my free Total Indicator for eSignal.