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Podcast: Money Life with Chuck Jaffe
Episode: MacroTides' Welsh expects economic slowdown and a long, nasty market drop
Description: Jim Welsh, author of "Macro Tides" and the "Weekly Technical Review," says he thinks the stock market "is reaching an inflection point," saying that the next time the Standard & Poor's 500 makes new records but without support from the highs in the advance-decline line, he will take it as a sign that the stock market is about to roll over. Welsh says that several momentum indicators suggest a short-term decline could be between 3 and 7%, at which point he expects a bounce-back that lasts only until the economic concerns take hold. Welsh says a rise in layoffs would show that the m...