Subscribe in a readerItz Stock Chartz reported on Monday that the market had triggered an "unconfirmed" Hindenburg Omen signal. Now last night James Cramer on Mad Money was somewhat off on his reporting. He stated that the signal, August 12th 'confirmed' when in fact we have yet to see a confirmation. According to the omen, you need at least 1 or more subsequent same day signals within a 36-day period of the first...which was last Thursday.
Now Cramer dismisses this fairly accurate signal, saying it doesn't tell you 'when' the sell-off will take place, true. Itz stated that one shouldn't dismiss the signal, but use it as a yellow flag warning and one should use other indicators to focus on a possible market decline. Its common sense that no trader or investor should rely on just one indicator.
Here's a recent up to date report from Robert McHugh Ph.D;President and CEO of Main Line Investors, Inc., a registered investment advisor in the Commonwealth of Pennsylvania. The report provides some recent historical data & statistics.
>>LINK
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