CNBC reports on an analyst's note from UBS, and the view from the trading floor isn't entirely positive: suffered in the past when the tripwires associated with the "Hindenburg Omen" get activated.

Market veteran Art Cashin said Monday that the market phenomenon is looming again.

"There have been multiple occurrences of the Hindenburg Omen in the last several weeks," Cashin, the director of floor operations at UBS, said in his morning note.