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These Diverging Trends Point to a Market Correction, Says UBS
Friday, June 12, 2015 14:58
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Riesner: 15%-20% correction this summer likely
by Anora Mahmudova
Market Watch
A UBS analyst joins a chorus of technical experts who see the U.S. stock market in the process of hitting a top and expect a major correction this summer.
Michael Riesner, head equity technical analyst at UBS, in a note to investors presents a number of charts to support his ‘toppish’ warnings.
The S&P 500 is about 1% below its all-time high set last month, but what’s worrying Riesner is what he describes as “intact and growing divergences on macro and inter-market levels.”
In simpler terms, Riesner is working about the divergence between the S&P 500 and high-yield bonds, 10-year Treasury yields and inflation expectations.
Continue Reading at MarketWatch.com…
Source: http://silveristhenew.com/2015/06/12/these-diverging-trends-point-to-a-market-correction-says-ubs/
