2:28 p.m. ET, September 4, 2019
Stocks are going to fall, and investors aren't ready
From CNN Business' Anneken Tappe
Both the global and the domestic economic cycles are slowing down, and investors holding risk assets such as stocks aren't ready for it, said Darius Dale, senior global macro analyst for Hedgeye, to CNN Business' Alison Kosik on the digital live show Markets Now.
Dale's forecast for the market is clear: "It's going down."
Even though stocks are just 3% to 4% off record highs, year-over-year the Dow and S&P 500 are flat. But investors who have been defensively positioned, "have been making money hand over fist," Dale said.
While the trade war with China has an impact on day-to-day trading, the market is ultimately trading based on fundamentals like the economy and the data.
"If you focus on the [economic] cycle you don't have to wake up in fear because of some Trump trade tweet or headline," said Dale.