We are on the verge of something much more pronnounced than what happened in 2008. It is going to be a crisis that is going to be far more profoundly felt be everybody. It is going to make a much bigger difference.
Related ETFs: SPDR ETF (XLF), SPDR Barclays Capital High Yield Bnd ETF (JNK), SPDR Dow Jones Industrial Average ETF (DIA), SPDR S&P 500 Index ETF (SPY)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Jan 5, 2016
Stock Market: A Lot Of Technical Damage
Until the Federal Reserve changes this dynamic, I do not see what is going to prop up this market. If everybody believes that interest rate hikes are coming, if the economy is weakening, if corporate earnings are under pressure, and you are fighting the Fed there is not a lot to this market.
And if you look at the technicals of the market, you look at the trends that have been broken in the S&P 500 Index, in the Nasdaq, in the Dow Jones Industrials... I mean there is a lot of technical damage to this market and it takes some kind of a game changing event (to reverse it).
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
And if you look at the technicals of the market, you look at the trends that have been broken in the S&P 500 Index, in the Nasdaq, in the Dow Jones Industrials... I mean there is a lot of technical damage to this market and it takes some kind of a game changing event (to reverse it).
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Dow Jones Transportation Index: Officially In Bear Market Territory
The Dow Jones Transportation Index continues to get crushed, again the weakest index on the day. We are down more than 20 percent from last year`s high. We are officially in bear market territory in the Dow Jones Transportation Index and do no try to blame this on weak oil prices. This is all about the economy and economic weakness as these are economically sensitive stocks and that is why they are suffering.
Related stocks: FedEx Corporation (FDX), Union Pacific Corporation (UNP), United Parcel Service, Inc. (UPS), Norfolk Southern Corp. (NSC), CSX Corporation (CSX)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
Related stocks: FedEx Corporation (FDX), Union Pacific Corporation (UNP), United Parcel Service, Inc. (UPS), Norfolk Southern Corp. (NSC), CSX Corporation (CSX)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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