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Re: [RT] mkt outlook



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I've met slightly different description, but anyway the picture does not change much.
"Omen" days are marked with red background.
 


Ben <profitok@xxxxxxxxxxxxx> wrote:
When we look at Thursdays decline
the  Fri. rebound is very negligible and without conviction
in addition to add insult to injury new hi new low were terrible
also
this happen
Short Term
The Hindenburg Omen, a signal developed by Jim Miekka, has received a lot of publicity lately.  The signal has had some false positives, but it has also preceded every major decline.  The parameters are:
NYSE new highs and new lows must both exceed 2.8% of NYSE issues traded (currently 93).
The NYSE composite must be above its level of 50 trading days earlier.
The McClellan Oscillator must be negative.
When the above conditions have been met the signal is in effect for 30 days.
On Friday all of the conditions were met.  Even 10% trends (19 day EMA?s) of NYSE new highs and new lows exceeded 93 (NYSE NH 148 and NYSE NL 102).  The NYSE composite is 2 days off its all time high.
 
If we have a follow up to the upside I would use it to short
oil is also at 95-96 a barrel
gold hit 810 Friday
and
money markets are not safe anymore as they contain 5-25%    of bad quality mortgage loans!!!
Citibank ceo   is out
etc,,,
Ben

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