Tom McClellan: Presidential Election Cycle Indicates a Market Pull-Back in the Fall

Jim welcomes back Tom McClellan, Editor of McClellan Financial Publications. Tom comments on his technical work with presidential election cycles, in that the months leading up to an election are usually quite negative. He sees the best odds for a pullback in September lasting into mid-October. He would then use the period leading up to the election in late October as a buying opportunity, as the months after the election are traditionally strong for the markets. Tom believes all the major asset classes will come down together this fall. He also discusses global negative interest rates as a bubble which will likely not end well. Tom gives his outlook on gold and oil as well. He is bearish on gold short term but believes it will bottom by the end of the year, providing a great buying opportunity. Also in this segment, Cris Sheridan has this week’s Market Wrap-up, and Frank Holmes, CEO of US Global Investors, covers the commodity markets with Jim.

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