Yesterday was an interesting day as far as our friend the Hindenburg Omen is concerned.  According to the Wall Street Journal NYSE data we had 137 new 52 week highs and 69 new 52 week lows.  The 69 new lows equaled 2.1814 percent of the total number of issues traded at 3,163.  The minimum percentage needed for new 52 week lows is 2.2 percent of the total issues traded.  Well, 2.1814 rounded up is 2.2.  It’s splitting hairs but basically we were technically 1 new 52 week low from having our second confirmed Omen.

Bottom line, it may be best to treat this as if it has been confirmed and protect any at risk assets you have.  In the meantime, we are still on watch for a conclusive confirming second Omen signal.  Stay tuned.

We’ll see if the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex has called the market top with this weekly automatic Decision Point trade.

MTPredictor DP Market Top?

Tags: automated trading setups, commodities, decision point, elliott wave, elliott wave software, fibonacci, fibonacci trading software, forex, futures, hindenburg omen, mtpredictor, mtpredictor trading software, stocks, trading software, wall street journal

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