Frenkel's 'Tea Leaves' Suggest Throwing in the Towel

For the second time this week, Steve Frenkel, chief technical analyst with PatternWatch - a member of StreetBrains' Actionable Information eXchange (AIX) - was invited to come on CNBC to discuss his views of the market.

In a segment titled 'Reading the Technical Tea Leaves' on today's 'Powerlunch' program, Steve got to talk about what he does best: analyzing and interpreting technical charts.

Although Frenkel's assessment of the current state of the market may not coincide with popular opinion, he certainly doesn't lack conviction in his calls (as Michelle Caruso-Cabrera points out.) And to the dismay of many investors, his calls for a vastly declining market have been spot on.

Click here to view the segment.