Investors might be atwitter over the so-called Hindenburg Omen, a technical indicator flashing a red alert for an imminent market crash, but the odds of it being right are long to non-existent, experts say.
Jim Miekka, deviser of the so-called Hindenburg Omen, says that stocks could drop by 20% from their level earlier this month.
Miekka%u2019s omen is an indicator of major stock market crashes and is named after the 1937 disaster of a passenger airship. He created it using a formula from data including 52-week stock levels and moving averages of the New York Stock Exchange.
Wall Street is whispering about the 'Hindenburg Omen,' a technical indicator that's supposed to signal an upcoming stock market crash. Some brokers are warning their clients. Others dismiss it as too much drinking.