4th Hindenburg Omen in 9 Trading Days

The 3rd confirmation. It's either something is seriously wrong in the stock market, or the stock market has been so seriously wrong for long time that the Hindenburg Omen now happens as a matter of course, signaling nothing. For more on the Hindenburg Omen, see my TA blog posts.

Third Hindenburg Omen Confirmation (Tyler Durden, 8/24/2010 Zero Hedge)

"The market is now down 3.4% from the August 12 open, when the first Hindenburg Omen was sighted, on route to validating the prediction of a 5% drop. However, in the process it continues getting worse and worse - today we just got a third H.O. confirmation, and a 4th standalone HO event, as the market seems to be getting ever more schizophrenic, with increasing new highs and new lows, while the undercurrent is one of ever increasing implied correlation as noted earlier, as ever more asset managers simply rely on levered beta "strategies" to redeem their year. Unlike 2009, however, this time the trick won't fly, as it appears the market's downside potential is finally starting to be appreciated."

Japanese yen hit 15-year high against US dollar today.

S&P downgraded Ireland's sovereign debt from AA to AA-.

Existing home sales in July tumbled whopping 27% to 15-year low.

Sky is falling, sky is falling...

Otherwise, it is a beautiful summer day, big waves breaking on the beach that I can hear from where I type.

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