The stock market is heading for a downward correction in September or October more severe than any since the credit crisis took hold, Robin Griffiths, technical strategist from Cazenove Capital, told CNBC Monday.
“We are going to get a correction worse than what we have seen, quite a bit worse actually,” Griffiths said while taking a technical look at the FTSE-100.
“The market has come up in a V shape anticipating the economy will do that. The V is in the stock market, not the economy,” he added.
Griffiths said that the stock market is currently in a quiet period and might drift higher during the summer. But when investors come back from their summer breaks in September, October, it could bring a sharp downward correction, he said.
- Watch the full interview with Robin Griffiths above.
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