Wed March 4 - Hindenburg Omen

SPI Futures once again, traded in a large 221 point last night, with a high of 6449, low of 6220, and a close this morning of 6284, down 84 points, on volume of 31,962 contracts, which is high (for us), but not as high as previous days. A 110 point red arrow at 03:00, with one gap up at 6367, and one down at 6225.

DOW down 2.94 pct, yep, she was up over 5 pct yesterday with the largest point gain in history, on anticipation of a Fed rate cut, which the market got, but was viewed as a Virus emergency cut, so down she went, just like the XJO after yesterdays RBA rate cut. What's that saying ? Oh yeah.. "Putting out fire with gasoline". SNP down 2.81 pct and Canada (resource driven) down less, at .78 pct. VIX up 10.17 pct to 36.82. Have a nice day.



Today in 1936, saw the first flight of the airship Hindenburg at Friedrichshafen, Germany. She was the lead ship of the Hindenburg class, the longest class of flying machine and the largest airship by envelope volume. The airship flew from March 1936 until it was destroyed by fire 14 months later, on May 6, 1937 whilst attempting to land at Lakehurst Naval Air Station in Manchester Township, New Jersey, USA. Not to be confused with the Hindenburg Omen, a technical indicator designed to signal the increased probability of a stock market crash, comparing the percentage of new 52-week highs and new 52-week lows to a predetermined reference percentage. Like it's namesake, it too, crashed and burned.

	Column 1	Column 2
0	mce-anchorH	6449
1	L	6220
2	C	6284
3	R	229
4	R6	6547
5	R5	6489
6	R4	6459
7	R3	6432
8	R2	6405
9	R1	6375
10	PP	6318
11	S1	6260
12	S2	6230
13	S3	6203
14	S4	6176
15	S5	6146
16	S6	6089