Markets could see a correction in the June to July time-frame, said Tobias Levkovich, chief U.S. equity strategist at Citi. He shared his market outlook with investors.
“We’re watching the percentage of upward revisions done by analysts on the Street and it’s right at the borderline at about 70 percent,” Levkovich told CNBC.
“If we go above 70 percent, historically, markets have had a little trouble.”
Although markets may see a dip, a full-blown bear market is “unlikely,” he said.
“Secondly, the leading indicators' pace of improvement is beginning to rollover and historically, that’s been somewhat negative for stocks — particularly for mid- and small-cap stocks,” he added.
- Watch Levkovich's Previous Appearance on CNBC (Apr. 13, 2010)
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No immediate information was available for Levkovich or his firm.