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My research shows a 15% stock correction: Analyst

Friday, 31 Jan 2014 | 9:02 AM ET
15% correction coming: Pro
Friday, 31 Jan 2014 | 8:03 AM ET
The marketplace is overly long, explains Rick Bensignor of Wells Fargo Securities. Bensignor thinks 2013's December 31st high "potentially very much lines up" with the peak in September of 1929. Ryan Detrick of Schaeffer's Investment Research, provides perspective.

Crunching historical numbers on stocks, one strategist who spoke to CNBC on Friday warned the market could see a painful 15 percent correction.

U.S. stock futures pointed to a triple-digit drop for the Dow Jones Industrial Average at the open on this last day of trading in a January, which has been a tough month for investors. (Click here for the latest prices)

(Read more: Why this decline isn't THE correction: Stock pros)

Rick Bensignor at Wells Fargo Securities told "Squawk Box" that his research shows parallels between the market highs in December and the peak in September 1929.

Notice the similarities between the two charts.

He stressed that he's "not looking for a crash ... like what ultimately took us to the 1932 bottom," but pointed out the first leg of the decline then was 15 percent.

Given market forces today, a similar 15 percent decline could happen in the near-term, he added.

By CNBC's Matthew J. Belvedere. Follow him on Twitter @Matt_SquawkCNBC.

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