Highly-correlated global markets will likely continue to correct until October, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC on Monday. But there is a very good chance of a mid-summer rally within the correction, he added.
The FTSE-100 index is likely to drop below the 5,000 level this week, according to Robin Griffiths.
"The correction that began in April is unlikely to complete the bottom until October-time," he told CNBC. "But, there's a very good chance of a mid-summer rally."
"The mid-summer rally is quite likely to be sustained for four weeks, possibly a little longer," Griffiths added. "But the final low will come in October."