• 261 days Will The ECB Continue To Hike Rates?
  • 261 days Forbes: Aramco Remains Largest Company In The Middle East
  • 263 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 663 days Could Crypto Overtake Traditional Investment?
  • 668 days Americans Still Quitting Jobs At Record Pace
  • 670 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 673 days Is The Dollar Too Strong?
  • 673 days Big Tech Disappoints Investors on Earnings Calls
  • 674 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 676 days China Is Quietly Trying To Distance Itself From Russia
  • 676 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 680 days Crypto Investors Won Big In 2021
  • 680 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 681 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 683 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 684 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 687 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 688 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 688 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 690 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

Another Sequence of Hindenburg Omens

The first 5 trading days of August witnessed another four Hindenbug Omens. We have used Bob McHugh's definition of the Omen and also his filters as described in http://www.safehaven.com/article/30019/we-got-an-official-confirmed-hindenburg-omen-on-may-31st-2013.

I don't keep track of the Omen as you'll usually find a safehaven.com contributor posting a missive when it occurs. No one mentioned the occurances last week; I thought the week's trading action unusual, and decided to have a look at the data.

Bob's ctiteria for a confirmed Hindenburg Omen is two instances of the following, happening within a 36-day period:

  1. Number of New Highs and New Lows on the NYSE exceeds 2.2% of the issues traded;
  2. New 52 Week NYSE Highs cannot be more than twice New 52 Week Lows;
  3. NYSE 10 Week Moving Average is rising;
  4. McClellan Oscillator is negative.

August 7 did not qualify as the number of new highs was eight issues shy of the required 2.2% of total issues traded.

You can keep track of the data at the following links:
NYSE New Highs/Lows: http://online.wsj.com/mdc/public/page/2_3021-newhinyse-newhighs.html
NYSE Issues Traded: http://wsj.com/mdc/public/page/2_3021-tradingdiary.html
NYSE McClellan Oscillator and NYSE 10-Week Moving Average: http://stockcharts.com/ Symbol: $NYMO, $NYSE

The market is continuing to work out a large megaphone pattern.

Is the pattern complete? I don't know. I do know that Hindenburg Omens will likely signal the completion of the pattern. Is this the time? Could be!


Back to homepage

Leave a comment

Leave a comment