A confluence of factors suggests the Dow Jones Industrial
Average is heading for a 20 percent decline this year, Citi FX Technicals Global
Head Tom Fitzpatrick says.
A confluence of factors suggests the Dow Jones Industrial Average is heading for a
20 percent decline this year, Citi FX Technicals Global Head Tom Fitzpatrick
said Thursday on CNBC.
"While there's a little bit left to the top side in the near-term, we're still on the same page we have been for the last three months or so, which is, that we're going to peak out around these levels and see a (decline) probably in excess of 20 percent," he said on "Fast Money."
Fitzpatrick looked at Dow performance charts from 1973-1977 and from 2006-present for the analysis.
http://www.cnbc.com/id/100388241?__source=yahoo|headline|quote|text|&par=yahoo full story
"While there's a little bit left to the top side in the near-term, we're still on the same page we have been for the last three months or so, which is, that we're going to peak out around these levels and see a (decline) probably in excess of 20 percent," he said on "Fast Money."
Fitzpatrick looked at Dow performance charts from 1973-1977 and from 2006-present for the analysis.
http://www.cnbc.com/id/100388241?__source=yahoo|headline|quote|text|&par=yahoo full story
3 comments:
You forgot me!
Not being invested in equities right now is one of the “most dangerous” things to do, according to Jack Bouroudjian, CEO of Bull and Bear Partners, who believes U.S. companies will beat Wall Street’s estimates for second-quarter earnings.
AP
Corporate America is “richer than ever before” and consumers have more disposable cash because of recent lower oil prices, Bouroudjian told CNBC on Tuesday, adding that the extra cash will boost earnings and bode well for stocks in the next few years.
“There are a few times in history, the 30s and 40s were one of those few times also, when not being invested (was) one of the most dangerous things to your portfolio,” Bouroudjian said on CNBC Asia’s “Squawk Box”. “I call this the period of accumulation. I think the next few years are going to be when you see the run in the markets.”
Jack B
Hey, someone who know what they are talking about.
The market and the economy are going to surprise alot of people.
Especially the gloomers. You know, the one who runs this blog.
That's great, corporate America is richer than EVER before, yet MORE Americans are on FOOD STAMPS and require GOVT assistance.
Your view of what I want for America and mine obviously differ.
Just as prices are moving higher with little resistance, some doubling in months...volume drying up, momentum slowing....in 2000 and 2007 it looked like prices would rise forever.
Mistakes made when bears are TOO BEARISH, and when BULLS are TOO BULLISH>
Near 1500 SPX is it more likely prices rise to 2000 or fall to 800?
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