The 'Hindenburg Omen': Bear Signal Scares Market Read
Three years ago ITZ touched upon this signal READ
As of Friday...all five criteria have been met.
Below are the current Charts
#1 The daily number of NYSE new 52 Week Highs and the daily number of new 52 Week Lows must both be greater than 2.2 percent of total NYSE issues traded that day.
#2 The daily number of NYSE new 52 Week Highs and the daily number of new 52 Week Lows must both be greater than 69.
#3 The NYSE 10 Week moving average is rising.
#4 The McClellan Oscillator is negative on that same day.
#5 New 52 Week Highs cannot be more than twice the new 52 Week Lows (however it is fine for new 52 Week Lows to be more than double new 52 Week Highs). This condition is absolutely mandatory.