"It is the presence of this Hindenburg Omen that makes us take Tuesday's plunge very seriously."
http://www.safehaven.com/article-7935.htm
Link courtesy of Birchtree.
http://www.safehaven.com/article-7823.htm
The Dow Industrials Drop 185 Points Friday, the day after we got a Confirmed Hindenburg Omen
by Robert McHugh
The Dow Industrials fell sharply again, down 185.58 points to close at 13,360.26 Friday. Volume was huge on the decline in all major averages, which is not good. NYSE volume was 134 percent of its 10 day average, with downside volume leading at 78 percent, with declining issues at 74 percent, with S&P 500 downside points leading at a near panic 89 percent. NYSE New 52 week Highs came in at 88, with New Lows at 73, and for all intents and purposes, we got a third Hindenburg Omen Friday.
The Dow Industrials Drop 185 Points Friday, the day after we got a Confirmed Hindenburg Omen
by Robert McHugh
The Dow Industrials fell sharply again, down 185.58 points to close at 13,360.26 Friday. Volume was huge on the decline in all major averages, which is not good. NYSE volume was 134 percent of its 10 day average, with downside volume leading at 78 percent, with declining issues at 74 percent, with S&P 500 downside points leading at a near panic 89 percent. NYSE New 52 week Highs came in at 88, with New Lows at 73, and for all intents and purposes, we got a third Hindenburg Omen Friday.
Oftentimes equities will rally after a Hindenburg Omen occurs, faking folks out, then the plunge comes on the other side of the hilltop. 1987 is a perfect example of that, as was 2006.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
"It is the presence of this Hindenburg Omen that makes us take Tuesday's plunge very seriously."
http://www.safehaven.com/article-7935.htm
So Where Are the Dow Industrials Headed?
Mon, Jul 9 2007, 14:32 GMT
by Robert McHugh, Ph.D.
Main Line Investors, Inc.
Short term, the Dow Industrials are approaching an Intermediate term top. However, there is evidence that suggests more upside is likely over the next few weeks, leading to that top. The below pattern in the Dow Industrials is an Ascending Expanding Wedge, with diverging upper and lower boundaries, which suggests a top here of significance. Once complete, prices can be expected to drop to about the start of the pattern, at a minimum, meaning into the 9,000s over the intermediate-term, although if the PPT responds by hyperinflating the money supply, it could be 9,000 in real dollars (gold adjusted), not nominal. A confirmed Hindenburg Omen remains on the clock until October, 2007.
http://www.fxstreet.com/futures/mark...007-07-09.html
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
Thursday was third wave up.
Keep in mind the Hindenberg.
Any day now....
(this photo of the Hindenberg crashing edited out by request of some viewers.)
Last edited by James48843; 07-18-2007 at 03:24 PM.
What is that guy's articulable reason for a top? A major problem with technical analysis is that people overdo it and draw trendlines that are insignificant. The only significant line will be whether or not 1540 is our new support. Picking tops is too much guesswork. IBD has been recommending caution for about 11 months now.
Time to bring this thread back to life?
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
It was reported that there was a third Hindenberg Omen yesterday.
Can anyone provide a link to confirm?
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
And here:
https://www.technicalindicatorindex.com/Default.asp
Dang- how did we miss that?
Third Hindenberg Omen.
Everybody- expect a nice big fall from here!
http://www.safehaven.com/article-3882.htm
"Hindenburg Omens are relatively rare. In checking them from 1997, going back to 1970, Jim found that they usually occurred prior to major declines, with relatively few false signals. Sometimes two or three signals occurred in a row, within days of each other. I consider that a signal expires 30 days after its last occurrence, unless a decline has taken place within that time. There was only one signal before the 7% drop in October of 1989, but there were several days of signals in both 1987, and again in June- July before the 20% drop into October, 1990. There were several before the 10% drop in March 1994."
Tom
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