Money | stock market crash 'Hindenburg Omen' Sees Stock Market Crash Skeptics say it's just alarmist thinking (or drinking) By John Johnson Posted Aug 14, 2010 1:27 PM CDT Copied In this Aug. 8, 1936, file photo, the zeppelin Hindenburg floats past the Empire State Building in New York. (AP Photo) Uh-oh. The Hindenburg Omen—a technical indicator that crunches Wall Street numbers—thinks the stock market is headed for some kind of meltdown next month, reports the Wall Street Journal. But take it with a grain of salt. The Journal tempers the doom with quote up high from an industry observer: "Personally, it sounds like (people) are starting their weekend drinking early." The Hindenburg Omen has been around since 1995, one of several such indicators with names like "The Bearish Abandoned Baby" that tend to draw attention in dire times. Market experts say that about 1 in every 4 appearances of the Omen leads to what can genuinely be considered a crash. "It isn't a reason to move to 100% in cash," says a strategist at Schaeffer's Investment Research. "We're taking a wait-and-see approach, but considering its recent history, we're considering it more than other indicators." Read These Next New Fox star, 23, misses first day after car troubles. Iran's supreme leader makes first public comments since ceasefire. Man accused of killing his daughters might be dead. Her blood isn't compatible with anyone else's. Report an error