Technician John Kosar: We Are Breaking 2009 Uptrends Both Here and Overseas

Jim welcomes back John Kosar CMT, Director of Research at Asbury Research LLC. John notes that long-term technical uptrends, dating to the beginning of the bull market in 2009 are breaking down, not just in the US but in overseas markets as well. He believes there has been technical damage that speaks to the potential for a global recession, as major trends in effect for more than five years have been broken. John makes the point that globalization has made the world a smaller place, and overseas data from major markets is now correlating with US markets. John also covers his outlook for oil and gold, as well as where he is currently deploying capital in this environment. Also in this segment, Ryan Puplava has this week’s Market Wrap-Up, and David Morgan covers the precious metals markets with Jim.

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