The Stock Market Is Oversold : Analyst Tells CNBC

The stock Markets repeated Monday’s performance and remained in green territory on Tuesday.

According to Art Cashin, director of floor operations at UBS (NYSE: UBS), these positive moves are an oversold reflex rally and he expects the rally to last for a couple more days. While talking with CNBC, he said that the markets are oversold and therefore some bounce is imminent. He said that the markets need to do some introspection and should go back to find the ailing areas. He also stressed that the rating agencies should be separated from the issuers.