People exit an HSBC branch at Dubai Internet City in Dubai January 4, 2012. REUTERS/Nikhil Monteiro
Business Insider: HSBC: RED ALERT — Get ready for a 'severe fall' in the stock market
HSBC's technical analysis team has thrown up the ultimate warning signal.
In a note to clients, Murray Gunn, the head of technical analysis for HSBC, said that he is now on "RED ALERT" for an imminent sell-off in stocks given the price action over the last few weeks.
Gunn uses a type of technical analysis called the Elliott Wave Principle, which tracks alternating patterns in the stock market to discern investors behavior and possible next moves (more details here).
Read more ....
WNU Editor: Everyone is expecting the stock market to decline for the simple reason that US Fed Chairwoman Janet L. Yellen has made it very clear that she was/is not going to raise rates until after the election. Since the election is only a month away .... now is probably the time to bail-out (I bailed out during the summer). As to how important (and politicised) the US Fed is during an election cycle, this article sums it up .... Is the Fed politically biased? Look at its interest-rate decisions as elections near (L.A. Times).
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