Carter Worth is sticking to his guns.
The chief market technician at Sterne Agee, Worth has long maintained a bearish perspective on the market, even as stocks have soared. And as shares bounced back from their sudden lows in mid-October, Worth repeatedly called for the downdraft to worsen—a prediction that did not pan out.
Worth now says that the September-to-October slide should serve as "a foreshadowing of what the next one's going to look like—which is worse, by all accounts."
"The further this goes without that kind of drawdown, the worse the inevitable drawdown will be," he said. "So we think we're not only going to visit 1,820, we're going to go below that."