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HSBC’s Chief of Technical Analysis Just Warned of a Potential 1987-Type Crash  ( Original )
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.

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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

Phoenix Capital Research