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But we saved everything 🙂.
Tom McClellan clarifies that reports of a Hindenburg Omen signal being generated today are incorrect.
He explains that while both new highs (NH) and new lows (NL) exceeded the necessary thresholds and the McClellan Oscillator was negative, the NYA index was 0.1% below its level of 50 trading days ago, failing to meet this specific criterion required for the signal.
McClellan has recently commented on notable market shifts in other assets. He observed that non-commercial traders have become net long in Bitcoin futures, taking a position typically associated with smart money. He has also suggested that a falling savings rate could be bullish for equities, though he noted that pandemic factors have disrupted usual trends.