An OEW Colleague of mine pointed me to the comment section of a post by Pugsma
One of the comments says this:
"yes the creater of the Hindenburg Omen just went Bullish on CNBC after hours on Friday Sept 3rd. He stated that the McClellan Oscillator now be strongly in the positive that a market crash is highly unlikely. As long as the McClellan stays positive, Mr Miekka said it was a good idea to play the long side of the trade. Interesting Mr Miekka said he had a trend change indicator go bullish on Tuesday Aug 31st and produce a 5-day Russel-2000 “Buy” signal. However, he did not act on it. Pitty, as the Russel-2000 is up aobut 8.4% since Tuesday. I guess Mr Miekka needs to follow my blog a little closer. I need to contact him about teaming up."
So, after 70 points of a rally and 4 days of positive breadth, Hindenburg can be ignored not based on its own parameters, but based on McClellan Oscillator.
I still do not understand if there is a hard set of rules to ditch Hindenburg, but, we have had enough fun with this thing, and I will try to refrain from mentioning it again -- not a promise, but I shall try :-)
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago