Clem Chambers, Founder of ADVFN, joined us in the Tip TV Finance Show and spoke on why the markets might see a slow grinding to the downside, and further offered the outlook for the Dow Jones, EUR and gold.
Chambers highlighted how his previous view of a market crash has changed, and he now believes that the markets are still headed downside but in a slow grinding manner. He suggests having a look at the price action in the Dow Jones equity index, maintaining a negative outlook.
Chambers comments how the markets have entered a calm phase at the moment before the drift lower. Continuing on the DJIA, he mentions that the looking at the trend, a medium-term downside move is likely.
On currencies, Chambers remains short on the EUR, noting that the single currency should be weak.