Want to create an interactive transcript for this episode?
Podcast: Money Life with Chuck Jaffe
Episode: Technical analyst McMillan makes a case for at least 10% more downside
Description: Lawrence McMillan, president of McMillan Analysis, says the market has been in an oversold rally and is currently correcting as it comes out of that. He sees deteriorating breadth but still thinks this could be what he called "a healthy correction." McMillan says if the Standard & Poor's 500 can't hold the 5400 level, he would expect it to drop to 5000, a move big enough to put the stock market into bear market territory, a decline of 20 percent from market peaks in February. Wade Pfau, professor of retirement income at The American College of Financial Services, returns to the show to discuss...