• 2 hours Gold Miners Brace For Seasonal Downturn
  • 9 hours The Silver Plunge Continues
  • 1 day 7 COVID Vaccine Stocks To Plan Upside Moves
  • 1 day Rhodium Climbs Reaches Record Highs
  • 2 days Tesla Tumbles After Battery Day Fails To Impress
  • 2 days Three Energy ETFs To Watch This Decade
  • 3 days What To Do With $2 Trillion In Suspicious Bank Transactions?
  • 4 days How The Stock Market Predicts Electoral Victory
  • 4 days Tesla's "Battery Day" Could Deal A Blow To Cobalt Miners
  • 5 days New TikTok Deal Hopes To Bypass National Security Concerns
  • 5 days Where Will Gold Go From Here?
  • 6 days COVID-19 Is Fueling A Pastic Waste Crisis
  • 6 days Gold Output Set To Decline
  • 7 days Uber And Lyft Look To Go Electric
  • 8 days COVID-19 Is Crushing Palladium Demand
  • 9 days This ‘Once-Boring’ Tech Company Is Now Super Hot
  • 10 days Will Air-Based Protein Be Our Future Food?
  • 10 days Google Pledges To Go Carbon-Free By 2030
  • 11 days A New Twist In The TikTok Saga
  • 11 days Gold Inches Closer To $2,000
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  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