Trading patterns for currencies suggest stocks could be headed lower, this strategist says.
Sure, you can trade currencies as an alternative to stocks. But what about looking at currencies for clues to stocks' direction?
Over the week ended May 25, he says, the S&P 500 stock index moved higher, but risk currencies weakened. "Two times out of three, that's unsustainable," he told CNBC's Melissa Lee. "The S&P can't charge ahead without confirmation from risk FX."