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Hindenburg Omen Confirmation #1

Flashback: Dreaded Hindenburg Omen Will Play Out Within 4 Weeks [1]

Tyler Durden
Zero Hedge [2]
Aug 20, 2010

Today we got our first Hindenburg Omen confirmation. The number of new highs was 136, and new lows was at 69 (per the traditional WSJ [3]source).

Granted this particular criteria set was a little weak as the 69 is precisely on the borderline for confirmation (the 2.2%), and the new highs number was not more than double the new lows (although it was close).

Less gating were the McClellan oscillator which was negative at -83.6, and the 10 week MVA, which rose, which were the two remaining conditions.

The first omen was spotted on August 12 – a week later the H.O has been confirmed.

The more confirmations, the scarier it gets from a technical perspective, not to mention the conversion into a self-fulfilling prophecy (like every other technical indicator).

Having A Supply Of Healthy Foods That Last Just Makes Sense [4]