Jim Miekka only developed HO as a signal for the NYSE, not the Nasdaq. Same for Bill Ohama and the TS.
Posted 19 November 2019 - 01:56 PM
NYSE will trigger 1st HO today after the Naz has had 8 in a row
Posted 19 November 2019 - 02:24 PM
The real money is not made shorting an overbot mkt or one at an all time high.
Posted 19 November 2019 - 03:48 PM
.......as far as I know HO or a series of Ho, is not enough for a top. It's a necessary condition, but it's not enough. In other words most of times it's useless. Infact you may have a series of HO and the market rising for as long as it wants.
forever and only a V-E-N-E-T-K-E-N.....though partly langbardic
Posted 19 November 2019 - 10:47 PM
I have found Hindenburg omens to be equally as powerful in rising markets as in overbought, topping ones. In fact, in 2017, every time there was a HO the market declined fairly quickly in a correction before going on to rally again to new highs.
A look at some other indicators and recent corrections: