Art Cashin Discusses the Hindenburg Omen Cluster

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There has been a recent clustering of Hindenburg Omen signals. CNBC’s technical guru Art Cashin was on hand to discuss the implications.

Definition from Investopedia:

A technical indicator named after the famous crash of the German airship of the late 1930s. The Hindenburg omen was developed to predict the potential for a financial market crash. It is created by monitoring the number of securities that form new 52-week highs relative to the number of securities that form new 52-week lows – the number of securities must be abnormally large. This criteria is deemed to be met when both numbers are greater than 2.2% of the total number of issues that trade on the NYSE (for that specific day).

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