Mid-week market update: In case you missed it, the market recently flashed a Hindenburg Omen last week. The criteria for the Omen was succinctly explained by David Keller as:
- The market is in an established uptrend;
- A sharp expansion in both new highs and new lows, indicating indecision; and
- A momentum break.
To be sure, Hindenburg Omens aren't bearish until we see a cluster of Omen signals within a short period. Since last week's Omen was a singular event, we should only treat it as a warning and not an actionable signal.
The full post can be found here.
