Citi’s Fitzpatrick – Stocks to Plunge Another 15% to 20%

from KingWorldNews:

With global stock markets trading in a sea of red, top Citi analyst Tom Fitzpatrick says stocks are poised to plunge another 15% to 20%. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, sent KWN some extremely powerful charts and notes. Below were his comments with three key charts:

Tom Fitzpatrick latest report:

“German 2-year yields still negative and U.S. long end yields moving lower tells us that there is a want and/or need for safety. We would still expect a test of the trend lows on U.S. 10 year yields at 1.43% and U.S. 30 year yields at 2.50% in the short term. The next support on Japanese 10 year yields is at 71-72 basis points. That does not provide a good backdrop for equities where we now see bearish outside days on all major U.S. Indices.”

Tom Fitzpatrick continues @ KingWorldNews.com