A closely watched index established by Dow Jones Indexes back in November 2010 began flashing red on Tuesday, a development that now has investors and their advisors reviewing the back-tested index’s history for signs of what’s to come and what investment strategies they should pursue next.

David Krein, Senior Director for Product Development and Analytics of Dow Jones Indexes, told On Wall Street that the so-called Dow Jones Golden Crossover Index just exhibited what investors call a “dead cross” -- a phenomenon that occurs when a market’s moving 50-day average crosses below its 200-day moving average.

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