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From Sentimentrader posted yest:
This would be the 7th time since the end of the financial crisis that the Nasdaq reversed at least a 1.5% intraday loss, dipping below its lowest close of the past couple of months.
All 6 of the others rallied at least 3% over the next couple of weeks.
All three majors were hanging within the OR-15... and all 3 just broke it to the downside.
..update: quick reversal, SPY has just broken it to the UPside... the other two not yet, but testing..
Last edited by Daniel on Thu Aug 08, 2019 9:57 am, edited 1 time in total.
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I posted this on 8/2:
The “AKRON OMEN” is a signal I use instead of the Hindenburg
It is based on the notion that a sustainable up-trend needs triple-digit new highs, and a sustainable down-trend needs triple-digit new lows, but NOT BOTH ON THE SAME DAY.
Such readings are a sign of a confused market.
Unlike the Hindenburg, the Akron signal is rare.
Yesterday [8/1] we got an Akron Omen signal.
The last signal was January 29, 2018
This is unheard of: we’ve now had three "Akron Omen" signals:
8/1 last Thursday
8/2 last Friday
8/7 yesterday
That’s bearish
But today, everything is fine
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.