Earlier today, we mentioned the grave set up occurring on the NYSE. Almost all analysts seem to be missing this, especially most wave analysts. The reality is that we have a succession of three clusters of MCM Hindenburg omen's, all of which marked major turns within the recent market structure. This is nearly the identical set up as what occurred in 2007 and 2008. We are not Hindenburg Omen enthusiasts, the MCM Hindenburg is another matter entirely and is extremely bearish accurate and very rare. The MCM Hindenburg Omen shares one thing in common with normal Hindenburg's: "Clusters of them should be interpreted as being dangerous". We have a particularly large cluster and particularly ominous pattern.
Additionally today, the NYSE attempted to break over a previous levels chart resistance. It failed on this attempt. Action like this is symbolic of failure to recapture a previously broken support, which became resistance and which is now resistance again in a more significant way since we have fallen beneath it again. While it is possible to be recaptured but it is not necessarily the greatest odds, however, if it is recaptured and especially if we break above the yellow primary degree resistance at 10430 or so - that is a good warning that the up move may be extending. This exposes the meat of the thin zone, which targets a significant drop if it were to be filled. As can be seen from history on this chart, thin zones are usually filled in quickly and accurate.