Murray Gunn, head of the technical analysis of HSBC, the bank informed the customer that its technical signals are red level alarm, alluding to the impending sale of the stock market - on the materials AMarkets.
Gann Analysis is based on the theory of Elliott Wave. In early September, Gann said that the stock market is very similar to its dynamics pattern of 1987, when there was a collapse. Interestingly, pre-crisis puts flags in their reports and Tom Fitzpatrick out of Citi, arguing about the same way. "Orange danger level" in late September Gunn awarded US stocks. Last Tuesday, Dow has fallen 200 points, and Gunn considers it a sign of a very fast drawdown.
According to expert estimates, the sale would be simply inevitable that if Dow Jones Industrial Average fall below 17,992, or if the S & P 500 prosyadet by 2116. Below these values - guaranteed holiday market "bears".
