gainspainscapital.com
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Original
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OCT 4, 2016
The head of HSBC’s Technical Analysis group just issued a major warning.
Unless the markets can take out its September highs, we could very well see a repeated of the 1987 Crash.
Murray Gunn is head of technical analysis for HSBC. In a recent client note, he pointed out the Head and Shoulders top pattern that presaged the 1987 Crash.
In its simplest forms, the Dow Jones Industrial Average formed a Head and Shoulders top when it violated its neckline. We then had a failed attempt to reclaim the neckline, which resulted in the Crash.
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Gunn notes that the Dow is forming a similar pattern today. He also notes that momentum is waning, and Elliot Wave analysis indicates a 1987-Crash could indeed occur.
http://gainspainscapital.com/wp-content/uploads/2016/09/GPC928162-300x185.png 300x" sizes="(max-width: 460px) 100vw, 460px">
A big move is coming to the markets. And we’re already preparing for it.
To lock in one of the remaining slots…
Best Regards
Graham Summers
Chief Market Strategist