QVMS - The Fasten Seat Belt Sign Just Lit Up

• A few months ago, I drew attention to the fact that the Nasdaq was showing signs of increasing dispersion under the surface, a warning regarding the relative health of the uptrend.
• I am referring to a signal called the Hindenburg Omen that is triggered when the index sits at or near a new high and both the number of new 52-week highs and lows on the exchange rises above a certain threshold.
• This week saw the index trigger its 13th and 14th Hindenburg Omens of the year. In the past, this degree of persistent dispersion has been a consistent precursor to corrections or bear markets in the index.

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