Art Cashin: We Could See 'Historic Trading' Soon

Stocks rebounded Tuesday after Monday's drop. Will the rally continue? Was yesterday a mere dip — or the first warning of the correction?

Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his stock-market insights.

Cashin noted Monday's multiple events, calling it a "90 percent down day" in which "the Vix exploded to the upside."

"I said last week that the market was ahead of reality," Cashin reiterated.

"I still have my warning signals up," he said. "There are things gathering around here that are kind of esoteric."

More Market Prognostication:

He pointed to "the market going into Ramadan on the 22nd" — referring to the month-long Muslim fasting discipline.

"We could see perhaps historic trading over the next eight weeks or so."

For Cashin's takes on the Baltic Dry Index, China and repartee with Byron Wein, watch the full interview.


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Disclosure information was not available for Cashin or his company.