ART CASHIN: The Stock Market Could Rally For Three Weeks

Art Cashin

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Art Cashin, director of floor operations for UBS, told CNBC this morning this morning that a “head and shoulders” battle is going on in the market, where it declines, rises above its original peak and declines again.”Sure enough, right on schedule, Monday took us there and it stopped,” he said. “That set up the strong possibility that this was a short term bottom that could lead to a 1 to 3 week rally.”

But Cashin doesn’t see any rally lasting.
I think it is a rebound that is going to be short lived. Anywhere from a week to three weeks. You want to be a little careful toward the end of the week and read that, and I might be getting ready to get defensive at the end of the week.

Nonetheless, he recommends becoming cautious by the end of this week.

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