Second Hindenburg Omen confirmed.
Blackstone IPO…a sign of a top in the Market?
Meanwhile, another action associated with a market top is the Blackstone Group's initial public offering of its stock (IPO). This is the largest public offering since 2002 , bringing in $4.13 billion. Is the smart money cashing out?
A second Hindenburg sighting...and a third!
Yesterday's market gave us a second Hindenburg Omen sighting…and today's activity in the market may give us yet a third zeppelin sighting. This now confirms the probability of a major decline in the next 120 days. The probability of a move greater than 5% to the downside after a confirmed Hindenburg Omen within the next 41 days after its occurrence is 77%, the probability of a panic sellout is 41% and the probability of a real big stock market crash is 25%. (Source: Wikepedia.com)
The occurrence of a confirmed Hindenburg Omen does not necessarily mean that the stock market will go down. On the other hand there has never been a significant stock market decline in history, that was not preceded by a confirmed Hindenburg Omen. :blink::worried::eek::eek:
http://www.marketoracle.co.uk/Article1349.html