I cant make this stuff up. People just lost their shirts last week and all we hear is doom and gloom. Not so sure how this will pan out. The doom and gloom people are doing well trading on investors fears in the market right now. Where's the optimism these days? When will the recover start?
'Hindenburg Omen' Flashes Technical Gauge and Its Creator Sense Stock Gloom; 'Good Conspiracy Theories'?
The Omen's Criteria
All criteria must be met for a confirmed occurrence.
-The daily number of new NYSE 52-week highs and the daily number of new 52-week lows must both be greater than 2.5% of the total issues traded that day.
-The smaller of the 52-week highs and lows must be greater than or equal to 79 (or 2.5% of 3,168 issues).
-The NYSE's 10-week moving average must be rising.
-The McClellan Oscillator, a measure of market fluctuations, must be negative.
-New 52-week highs can't be more than twice the new 52-week lows. (However, it is acceptable for the new 52-week lows to be more than double the 52-week highs.)
'Hindenburg Omen'
By STEVEN RUSSOLILLO And TOMI KILGORE
Forget about Friday the 13th. Many on Wall Street took to whispering about an even scarier phenomenon—the "Hindenburg Omen."
