On the heels of my Tuesday link-a-thon mention of Ian Woodward’s comments on the Hindenburg Omen, I noticed yesterday that Ian had another post up which mentioned a second Hindenburg Omen signal.
I figured it was about time to comment on Ian’s work, so I entered the requested information in the comment form below and when I went to check the anti-spam randomizer box to see what sort of strange characters I needed to type to prove that I am not a spambot, I found the image below:
Now I am not a particularly superstitious person, nor do I spend much time thinking about entrails, and I realize that it is possible to code in a small set of possible anti-spam choices...but I must say that on the heels of reading about the Hindenburg Omen, my first thought was that surely the Anti-Spam Omen must be a signal worth heeding.
Back to our regularly scheduled market correction…
That Hindenburg Omen sounds quite ominous. Is it possible that the market is just basing while it waits for its moving average to catch up? I'm looking at the QQQQ 52 wk chart.
ReplyDeleteI think a pullback/consolidation period, followed by a continuation of the bull market is the most likely scenario, but with another week or two like the current one, you'd have to start considering some more bearish scenarios.
ReplyDeleteI'm still short for now, but I'm also wondering low long the bears can maintain the upper hand.
Cheers and good trading,
-Bill
Lol. Random indeed. 07's renactment of 87.
ReplyDelete