On Aug. 12, volatile market action coincided with a technical signal called the Hindenburg Omen, whereby a relatively high number of new highs and lows in individual stocks occur at the same time.
This indicator instantly gained an enormous amount of media attention. So we sat down with Steve Hochberg, EWI’s chief market analyst and close colleague of Robert Prechter, to ask him about the now-infamous Hindenburg Omen.
EWI: Steve, recently a market indicator called the Hindenburg Omen has been in the news, what is going on?
Steve Hochberg: Discussion of this indicator certainly has been everywhere. Someone emailed us and said they even saw it mentioned on the front page of the Drudge Report! L
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GOLD spot
we has done well of every week this month in trading gold.
long
entry 1227stop loss 1210target 1250
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august 20, 2010friday5.45gmt
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Now FTSE, DOW JONE, Nikkei, DAX , ASX ,which are major stock indexes , are sending signal of JPY become strong.
Those stock indexes are pointing to lower sharply very soon , may be today or early of next week.
Then we will see XYZJPY will go down more , [xyz = USD, AUD, EUR, GBP]
Now AUD is so underpressured , you see GBPAUD, EURAUD, AUDSGD, AUDCHF, AUDUSD, AUDJPY.All bring to the summary that AUD is the weakest of major FX.
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By summary , GOLD, soybean, corn are strong against USD,
BUT XYZUSD [XYZ = eur, gbp, aud] are waiting for a while to see early of next week, then see real trend for next month.
*************GOLD spot
yesterday, silver chart built bullish pattern. Therefore, it is supporting gold bullish too.
I expect gold will go up to 1237, then 1250if it can break out 1275-1280
Long
entry 1225stop loss 1195Upside targets : 1237, 1250 , 1258 , then 1270
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