CNBC Stock Blog

Art Cashin: Markets Could See 'a Real Reversal'

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Stocks opened lower Monday, then turned mixed, ahead of a week filled with earnings reports and economic news—including the big government employment data release on Friday. Art Cashin, director of floor operations at UBS Financial Services, shared his insights.

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Word on the Street

“The markets are at a very critical juncture,” Cashin told CNBC.

Cashin said 1,150 to 1,160 is going to be the “key resistance area” on the S&P 500.

“And if they try one more time and fail, we could get a real reversal,” he said. “The dollar rallied a bit this morning, put some pressure on gold and U.S. futures, and the terrorism [alert in Europe]is going to be watched carefully.”

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Scorecard—What He Said:

  • Cashin's Previous Appearance on CNBC (Sept. 28, 2010)

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Disclosures:

No immediate information was available for Cashin or his firm.

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