- Both the daily number of 52-week highs and 52-week lows on the New York Stock Exchange are equal or greater than 2.2% of NYSE stocks that day.
- The 10-week (or 50-day) moving average is rising.
- The McClellan Oscillator, a measure of market breadth based on exponential moving averages of advancing and declining stocks, must be negative, or bearish.
- New 52-week highs are not more than twice the number of 52-week lows.
What is the Hindenburg Omen? It is a situation where the market breadth conditions occurs twice within 36 days.