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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).
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