With the last HO signal having occurred on June 19th, this one could be still be considered as part of a larger cluster that began back then. No matter how we want to classify it though, the message is the same... that although the market is still officially rising (as determined by the fact that the 50 day MA on the NYSE is rising), while there were 206 new 52 week highs generated, there were ALSO 111 new lows. And that dear readers is the exact type of polarity that the HO was designed to detect and issue an alert on.
So there you have it... another HO signal issued on August 5th, 2013.
Just a reminder....
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| How fast can a bubble pop? Faster than the blink of an eye! |
Thanks for the heads up, AR!
ReplyDeleteYou're quite welcome. But in truth, in the comments section of my last article, today commenter 'Fed Up With The Fed' actually beat me to it. Cudos to him/her as well :-)
ReplyDeleteSaw this on ZH yesterday ( http://www.zerohedge.com/news/2013-08-05/lowest-volume-day-year-ends-hindenburg-omen ), but was waiting for your confirmation! Thanks!
ReplyDeleteThanks HR. I used the search box on ZH yesterday to see if there was any new article on the HO and that one didn't turn up. So I missed it. I was wondering why nobody else reported it but obviously I just haven't spent enough time to focus much on markets these days. Gotta hand it to ZH too, they've been getting it right lately, are posting about Omen signals when they are legit, and are not posting false ones anymore. Thanks for posting the link buddy.
ReplyDeleteI got really nice counter trend momentum sell signals on the daily time frame today.
ReplyDeletehttp://highrevsopenhouse.blogspot.com/2013/08/gdow-also-running-into-major-resistance.html#comment-990687626
Yes sir... the HO did indeed register another one today. And the market internals for today's signal were even worse than yesterday's. Today there were 124 new highs and 191 new lows. So she's getting very wobbly good buddy.
ReplyDeleteCheers for the update, AR. Everyone seems lulled into a torpid complacency at the moment, so hopefully we'll see some fireworks soon. Can't believe there's been so little reaction to the carnage in Spain and Portugal. Calm before the storm.
ReplyDeleteZH are just following your lead.
ReplyDeleteAs am I.
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I await your invoice.
LOL... no, they beat me to it on both of these latest signals so they're getting it right 'all by themselves' :-)
ReplyDeleteWasn't there an HO signal on 07/25 as well?
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ReplyDelete