Tuesday, March 16, 2010

FedEx Chart Signals a Double-Dip for the Economy

FedEx gives investors a clear insight into how the U.S. economy is going to perform and its chart is saying that a double dip recession is inevitable, Robin Griffiths, technical strategist from Cazenove Capital, told CNBC Monday.

"There isn't just a risk of a double dip, the probabilities are such that I think it's baked into the pie and is inevitably going to happen," Griffiths said.

FedEx "is in a brilliant position to have a forward look at the state of the U.S. economy," Griffiths said.

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