Art Cashin: 'Massive Rally' Expected Soon

Stocks could be in for very choppy trading on Friday following the heavy sell-off in the previous session, but get ready for a “massive rally” sometime next week, said Art Cashin, director of floor operations at UBS Financial Services.

“We look like we can be shaping up for a 'Thursday-Monday [scenario]',” Cashin told CNBC.

Based on historical trading patterns, Cashin explained that a "Thursday-Monday scenario" occurs when there’s a huge decline on Thursday, followed by volatile markets the next day and throughout the weekend into the start of the following week.

“Friday tends to be choppy—but it’s not going to be quite as bad as what you saw yesterday,” said Cashin. “And then you go into the weekend with great hopes and what often happens is they open the trapdoor on Monday, which could be if nothing comes out of Europe and you get capitulation selling.” Read more