A new Hindenburg signal was generated on August 16th. This follows the signal in May and its confirmation in June. That combination resulted in a minor correction to the 50-day moving average in the S&P.
The current signal comes on the heels of what was a very close call on August 8th when only one ingredient was missing from the strict rules. If the S&P can’t hold at the 50-day ema then we should be prepared for a deeper break to the 150-day average (2388).
See the June 28th report for further background information in the Hindenburg Omen.
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