HSBC has issued a red alert on the stock market for potential 1987 style sell-off coming. October is notorious for massive sell-offs and crashes that experts have been warning about. We are just about due, as these events tend to happen every 8 years (+/- 1-2yrs) frankly its amazing we’ve lasted this long. We are doomed to repeat history, to repeat and dwarf 1929 crash! The economy is beyond weak propped up with printed money loaned out at next to zero interest rates for far too long. Sooner or later the levy is going to give on this nightmare the Fed, central banks and all the banking institutions around the world have created.
IMO Deutsche Bank will be the trigger this time around as they take the roll Lehman held in 2008. These big banks have extended themselves far too much with derivatives Id argue to make matters worse through rehypothecation.
Financial expert Harry Dent warns economic bubble will be “final bubble to crash”…
Get your money out of the big banks engaged in monetizing debt type activities, seek out small local banks or even credit unions because when SHTF we will see a repeat of what was done in Cyprus globally by those institutions who over extended.
RED ALERT — Get ready for a ‘severe fall’ in the stock market
by Bob Bryan | 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.
In late September, Gunn said the stock market’s moves looked eerily similar to those just before the 1987 stock market crash. Citi’s Tom Fitzpatrick also highlighted the market’s similarities to the 1987 crash just a few days ago. On September 30, Gunn said stocks were under an “orange alert,” as they looked to him as if they had topped out..more