kingworldnews.com
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.
During
the past 30 days, the Nasdaq has now recorded 6 of these signals, the
most since last November. Other than a very brief dip, that was a
horribly failed warning sign of future market weakness. But the other
signals were mostly successful during this bull market.
It’s
important to mention that at other times in the past 30 years, like in
2000 and 2007, the Nasdaq saw clusters of 15 or more signals in a 30-day
period. So currently, the total is still relatively low compared to
those peaks.
It’s
troubling because it has mostly preceded a tough few weeks for the
Nasdaq during this bull market, but it’s not yet to a point that
preceded the other bull market peaks.
沒有留言:
張貼留言