We Have A Hindenburg Omen Sighting
Remember when the last time a cluster of Hindenburg Omens nearly toppled the market in August 2010 and the only saving grace was Ben Bernanke's QE2 announcement at Jackson Hole which sent risk soaring? Today, nearly three years later, we got the first instance of the Omen again. Will it be a one-off fluke, or a cluster, which is needed to confirm this dreaded technical formation? Stay tuned in the coming days to find out...
The last cluster was Aug 2010 (and was only saved by Bernanke), the previous cluster was Oct 2007 and we know what followed... (red bars are Hindenberg Omens)
Full details of construction here.