(Bloomberg) -- U.S. stocks are in a bear market that may last until 2018 and benchmark indexes may set new lows, said Alan R. Shaw, the technical analyst who retired from Citigroup Inc. after 45 years with the bank and its predecessors. “I don’t think the bear market that started in 2000 has run its course yet,” Shaw said in an interview in New York. In the last report he authored for Citigroup in 2004, Shaw said the Dow Jones Industrial Average might struggle to remain above 10,000 for up to 20 years, “and I see no reason to change it five years later. My mindset continues to be very cautious.”
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