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By Catholic Online (NEWS CONSORTIUM)

8/28/2014 (9 months ago)

Catholic Online (www.catholic.org)

Market correction could be as high as 60 percent

Two financial experts announced on August 27 that markets may face a fall of up to 60% by the end of 2014.

Economic analysts are predicting a significant drop in the market, which may be as high as 60%.

Economic analysts are predicting a significant drop in the market, which may be as high as 60%.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

8/28/2014 (9 months ago)

Published in Business & Economics

Keywords: Economics, Finance, U.S., Market, News


LOS ANGELES, CA (Catholic Online) - David Tice, the president of Tice Capital and founder of the Prudent Bear Fund, reported that a jolt to international confidence in central banks will lead to a market decline between 30% and 60%.

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When this happens, he said, markets will face a "period of extreme turmoil."

Economic analysts are predicting a significant drop in the market, which may be as high as 60%.

Economic analysts are predicting a significant drop in the market, which may be as high as 60%.



Economic analysts are predicting a significant drop in the market, which may be as high as 60%.

Economic analysts are predicting a significant drop in the market, which may be as high as 60%.


Tice believes that this crash will be precipitated by a disillusionment with the Federal Reserve, which will see inflation rise. The Federal Reserve will scramble to raise rates, at which point "the Fed starts to lose control."

Technical analyst Abigail Doolittle agreed with Tice's prediction, believing that the market could also fall to between 50% and 60%.

"Unfortunately, I think it could come on a crash similar to what happened in 2007," said Doolittle, the founder of Peak Theories Research, said. "It's tough to know what the exact catalyst will be. But that's the very nature of that kind of selloff. They start slowly and then happen very suddenly."

"When we take the long-term chart of the Dow (refering to a 20-year chart of the Dow Jones Industrial Average)... we see that it's trading in a multiyear trading range, hitting up on resistance. . What makes this so important [is] you can see that the entire bull market trend over the past five years has started to reverse."

"When you see that kind of gyration around the trend, typically it suggests you're going to see some severe volatility," she said. "As scary as it is, I think that we could see possibly a 50 percent or 60 percent correction-an equal and opposite reaction to all these unusual policy moves."

Doolittle said that the S&P 2,000 close on August 26 was a psychological milestone that means very little technically. "As high as these stocks markets go, I've become bearish because the underlying technicals from the long-term really support this view."

"It's easiest to identify on the Russell 2000," she said. "What makes it important is the range has started to reverse the QE3 uptrend. This happened around the QE2 and the QE1 uptrend. ... The gyrations [again] typically signal a correction is coming."

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