The latest trends in the market have been down, signaling a new phase in which investors are more tepid, says Kevin O'Leary, Chairman of O'Shares ETFs, and star of the hit TV show "Shark Tanks."

"You can start to see the old days are back, everything old is new again, volatility's back, and investors have a chance to decide everyday whether to get in or out based on the tone of the market, which the trend lately has been down," O'Leary told Kitco News.

O'Leary noted that four rate hikes this year could flatten the yield curve and signal a recession, an outcome that he sees as unlikely.

"If the long-end, the 10-year, doesn't really move up, we're going to have a relatively flat curve, which generally signals a recession, I don't think that's the case but it's one of the concerns the market has and why you're seeing a lot of volatility now," he said.

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.

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