Money Life With Chuck Jaffe Daily Podcast

Macro Tides' Welsh: '17-year cycle' calls for a peak, a correction, then a long downturn

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Synopsis

Jim Welsh, author of "Macro Tides" and the "Weekly Technical Review" newsletters says that if the market can rally past recent highes -- with the Standard & Poor's 500 topping 4931 -- it will finish the market's recent rally and leave stocks vulnerable to a small correction over the next few months. That said, Welsh believes in a 17-year cycle that his charts show dates back nearly 100 years, and that cycle is cooking up a coming secular bear market that ultimately could last for a decade and crater the market in the process. Susan Fahy discusses the latest "CreditGauge" measures from VantageScore, which show that the consumer is showing signs of financial stress, but the action hasn't been as bad in most areas as the headlines might suggest. Ian Merrill of SCG Asset Management and The Alternative Strategies Income Fund talks about how money managers can add derivatives to a portfolio in ways that mitigate risks but goose returns over the long haul, and Vince Lorusso, president/portfolio manager of Cloug