HSBC Warns: The stock market 'is putting in a bigger top than eight years ago'

HSBC Warns: The stock market 'is putting in a bigger top than eight years ago'

From businessinsider.com

One major analyst note sent out early on Monday is calling the top in US stocks — with a potentially colossal slump to follow. Murray Gunn, the head of technical analysis at HSBC Bank, is out with the call, which says the Dow has put it a massive "head and shoulders" top. Here's Gunn: A Head and Shoulders top pattern occurs when, after an uptrend, the market makes a higher high than the previous reaction high, then a lower high and finally falls through the “neckline” connecting the two reaction lows. Based, on this, Gunn says the Dow Jones index "could have put in an historic top, one that may well turn out ... (full story)

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Comment #1
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Sep 21, 2015 5:23pm Sep 21, 2015 5:23pm

Rtm
Joined Jan 2011 | Status: dump and pump | 913 Comments

really don't see it.

All posts are my personal opinion

Comment #2
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Sep 21, 2015 5:36pm Sep 21, 2015 5:36pm

Guest
| IP XXX.XXX.134.87

Actually if you look at the 5 day DOW chart on yahoo finance, it is giving that finger pattern to investors on Thursday September 17 before dropping, have look made my day.
Cheers.

Comment #3
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Sep 21, 2015 6:10pm Sep 21, 2015 6:10pm

Guest
| IP XXX.XXX.166.3

Wow, that potential rotation index correction is frightening

Comment #4
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Sep 21, 2015 6:17pm Sep 21, 2015 6:17pm

glenngie
| Joined Nov 2009 | Status: Member | 1324 Comments

not the same circumstances.......

Comment #5
Quote
Sep 21, 2015 6:18pm Sep 21, 2015 6:18pm

Rtm
Joined Jan 2011 | Status: dump and pump | 913 Comments

Quoting Guest

Disliked

Actually if you look at the 5 day DOW chart on yahoo finance, it is giving that finger pattern to investors on Thursday September 17 before dropping, have look made my day.
Cheers.

Ignored

LOL !

All posts are my personal opinion

Comment #6
Quote
Sep 21, 2015 8:10pm Sep 21, 2015 8:10pm

Nabz
| Joined Aug 2014 | Status: Member | 58 Comments

Nasdaq 100 was rejected from historic high of March 2000 when market crashed 65% in a year and 80% in 2 years. Nasdaq 100 dropped from 4,691 to 815. We may not see such drastic drops now, but a correction should be expected. We have been in bull market over 6 years without any significant correction.

Comment #7
Quote
Sep 21, 2015 9:46pm Sep 21, 2015 9:46pm

OZTrader22
| Joined Jul 2015 | Status: Member | 164 Comments

Quoting Guest

Disliked

Actually if you look at the 5 day DOW chart on yahoo finance, it is giving that finger pattern to investors on Thursday September 17 before dropping, have look made my day.
Cheers.

Ignored

Haha

Comment #8
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Sep 21, 2015 10:53pm Sep 21, 2015 10:53pm

Guest
| IP XXX.XXX.230.21

Never saw that one coming...

Comment #9
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Sep 22, 2015 3:02am Sep 22, 2015 3:02am

Guest
| IP XX.XX.140.74

impossible, Goldman Sachs/Bloomberg said yesterday on ff that S&P this year end will be 2100.

Comment #10
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Sep 22, 2015 4:05am Sep 22, 2015 4:05am

jimr
| Joined Aug 2014 | Status: Member | 151 Comments

Trying to drive price down before buying.

Comment #11
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Sep 22, 2015 4:37am Sep 22, 2015 4:37am

Hurst
| Commercial Member | Joined Aug 2014 | 1123 Comments

Actually the market started dropping in April, whats this guy do all day, hardly speedy.

Comment #12
Quote
Sep 22, 2015 10:51am Sep 22, 2015 10:51am

bassramy
Joined Apr 2011 | Status: Cut Your Losses, Ride Your Winners. | 23 Comments

LOL, he has being looking @ that Weekly Bearish Pinbar that closed last week rejected from the important broken support turned Resistance @16700

Master Your Setup, Master Your self. (NQoos)

Story Stats

Posted: Sep 21, 2015 5:18pm
Submitted by:
Newsstand

Category: Fundamental Analysis

Comments: 12 / Views: 4,644