HSBC warns of ‘severe fall’ in stock market

(BUSINESSINSIDER) — HSBC’s technical-analysis team has thrown up the ultimate warning signal.In a note to clients released Wednesday, Murray Gunn, the head of technical analysis for HSBC, said he had become on “RED ALERT” for an imminent sell-off in stocks given the price action over the past 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.

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