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Richard's Remarks

 

Yesterday I emphasized that we now have a total of 11 distribution days in the NASDAQ and the S&P. We also have a breakdown in the ratio of the U.S. Index of Coincident Economic Indicators to the Index of Lagging Economic Indicators. This ratio has a long history of turning down before recessions; its lead time has been less than a year to as long as four years.

 

As subscribers know, I have not liked the recent market action. We now have the “Hindenberg Omen" – so named after the destruction of the Zeppelin. The Hindenberg Omen is based on equal percentages of daily highs and lows. This omen has appeared before every market crash since WWII. Many Hindenberg Omens have appeared without accompanying crashes, but the fact that the Hindenberg has now appeared allows but does not guarantee a market crash.

 

The negative propaganda regarding Gold is almost stifling. Despite the negative ... Log in or subscribe to continue reading.


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