Robin Griffiths: Final Low of This Bear Market Not Likely Until 2017

Jim welcomes back Robin Griffiths, Chief Technical Strategist at ECU Group in London. Robin’s work indicates that we are still in a bear market rally, as he notes that significant rallies can last 5 weeks or longer in some cases. He believes that short covering has helped fuel this rally since February. He also discusses the presidential election cycle, and how it may be different this year. Robin expects the bear market to hit a final low in 2017. He characterizes this as a slow bear, with a crash unlikely, given that stocks are overvalued, but not in bubble territory. Robin also covers gold, oil, China and the dollar, as well as Federal Reserve rate policy. Also in this segment, Kurt Wulff joins Jim to discuss the energy markets. Kurt believes the worst is over, and we have seen the bottom in the price of oil. He also notes that in the US, crude supply is down 8% year over year, while the demand for gasoline is up 5%.

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