Stock Market Sees 6 Titanic Or Hindenburg Omen Warnings In The Past 30 Days!
Stock Market Sees 6 Titanic Or Hindenburg Omen Warnings In The Past 30 Days! from King World News
Despite hitting new all-time highs on the Dow this week, the major index has now seen 6 Titanic or Hindenburg Omen warnings in the past 30 days! An illustration showing the warnings is included in this piece.
Another Nasdaq Warning
June 16 (King World News) – From Jason Goepfert at SentimenTrader: On Thursday, there were more stocks that slid to a 52-week low on the Nasdaq than rallied to a 52-week high. Coming so soon after a new high in the Nasdaq Composite, this triggered a Titanic Syndrome signal. There have now been 6 Titanic or Hindenburg Omen warning signs in the past 30 days, one of the larger clusters during this bull market…
Even though the Nasdaq Composite made a new high in the past week, the past few sessions have been volatile. On Thursday, there were more stocks on the Nasdaq that sunk to a 52-week low than reached a 52-week high.
Since this occurred so soon after a new high, it triggered a Titanic Syndrome signal. Ignoring the silly names, the Titanic and Hindenburg Omen signals highlight unusual market conditions when breadth is not necessarily confirming the rosy outlook given by a rising market index.