Nasdaq 100 Shows Stocks Are in Corrective Process, Macro Risk's Kolovos Says

John Colovos, chief technical strategist at Macro Risk Advisors, discusses the current state of equity markets, focusing on the NASDAQ 100. He explains the concept of market corrections and predicts a potential decline to 7000 for the NASDAQ 100. Colovos also examines the relationship between interest rates and market stability, highlighting the copper to gold ratio and US interest rates. Finally, he analyzes copper and gold trends, identifying a head and shoulders pattern in copper and a breakout in gold, suggesting a lower copper-gold ratio and a shaky market environment.

What are the three phases of a market correction as described by John Colovos?

What is the risk level for the NASDAQ 100 according to John Colovos?

How does the interest rate environment affect equity markets according to the discussion?

What technical pattern does John Colovos identify in the copper and gold charts?

What implications does John Colovos suggest regarding the copper-gold ratio and interest rates?