Markets To Correct By 10 Percent: CNBC

The CBOE volatility index recently touched its highest level in two months. Mark Arbeter, chief technical strategist at Standard & Poor’s, told CNBC, “The VIX is going to stay elevated. The first phase of the bull market is complete—the price structure since March 2009 has been very similar to the bull market off the 2003 lows as well as 1982 lows.”

He expects the markets to correct by 10-15 percent over the next 6 to 10 months. According to him, Asian and European markets are more prone to correction. He also said that he expects the bull market to resume after the correction.