Top Citi Analyst: Stocks Will Fall Another 15-20%

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Tom Fitzpatrick, a top technical analyst at Citi, told King World News that he expects stocks to fall another 15-20 percent from here.

“The price action over the past 3 months remains similar to that seen after the 2007 trend highs,” he said.

Fitzpatrick uses technical analysis to determine his view.

Now we have started to roll over again.  A similar follow through would suggest a move down to the 200 week moving average currently at 1,137 over the coming weeks.

He also states that investors are looking for more safety, as the German 2-year yield is still negative and the U.S. long end yields continue to move lower. Fitzpatrick expects the 10 year yeild to reach 1.43% and the 30 year yield to hit 2.50% soon.

Read more at KingWorldNews.com.

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