HSBC warning of severe market crash

[OnlinePoker]

RT so take it with a grain of salt...

Red alert: Prepare for severe stock market crash, warns HSBC

The technical analysis team at HSBC is warning recent stock market moves look eerily similar to just before 1987’s ‘Black Monday’, which saw the largest one-day market crash in history.

On October 19, 1987, the Dow Jones Industrial Average which comprises the 30 large US publicly traded companies, lost 22.6 percent of its value.

In a note to clients released Wednesday, Murray Gunn, the head of technical analysis for HSBC, said he was on red alert for an imminent sell-off in stocks in the light of the price action over the past few weeks.

"With the US stock market selling off aggressively on October 11, we now issue a RED ALERT. The possibility of a severe fall in the stock market is now very high," Gunn wrote.

https://www.rt.com/business/362618-stock-market-severe-fall/

[upaloopa]

1. Self full filing prophesy?

[Foggyhill]

2. Looks like those analysts are doing market manipulations

[relayerbob]

3. Why even post this crap?

RT = Grain of salt? More like train car full

[OnlinePoker]

4. Okay, how about CNBC?

HSBC warns the chance of a
HSBC warns the chance of a "severe fall" in U.S. stocks is very high
12 Hours Ago | 00:42

"The possibility of a severe fall in the stock market is now very high," warn technical analysts at HSBC, who have dialed up the bank's outlook for U.S. stock markets to "red alert" following an aggressive wave of selling.

The warning heightens the note of caution in HSBC's tone from a September 30 report in which the bank issued a lower rated "orange alert", pointing to similarities between Dow Jones Index trading patterns seen just prior to the 1987 "Black Monday" stock market crash and now.

HSBC contends the "head and shoulders" shape - a visual representation of price trends which are seen to signify the approach of a market top – is currently in evidence for the industrials-focused index, saying the pattern has recently been tested and re-tested.

http://www.cnbc.com/2016/10/13/red-alert-for-us-stocks-with-very-high-chance-of-severe-fall-warns-hsbc.html

[spooky3]

5. The orange alert is for a Trump victory.

[Warpy]

6. Sure, if it hadn't been reported elsewhere, maybe

However, HSBC is the source, not Pravda, not Putin, not Zhirinovsky, and not the KGB or whatever it's being called these days.

I'm not sure what they're expecting anybody to do about this information, even if their analysts are correct. As I recall, the 1987 stock dump was an excellent opportunity for anybody with extra liquid cash to pick up some real bargains. I know my dad did and smiled all the way to the bank as the market quickly recovered.

I've been expecting it not for HBSC's reasoning but because the market has been flat for so long, attempts at correction popping back to 18,000 +/- 500 for the Dow. People looking for easy money are going to start looking elsewhere.

[OnlinePoker]

7. Just to update this post

The S&P level of 2116 and DJIA level of 17992 given in this article have both been breached.