Money Life With Chuck Jaffe Daily Podcast

Sam Stovall, chief market strategist for CFRA Research, says the market needs to "digest its gains," which he expects to turn into a "low teens selloff," but that will be a bull  market correction and not a catastrophic event like the 2008 financial crisis. Stovall expects the Federal Reserve to  make cuts starting in September, but he notes that the central bank is going to wait until it absolutely must make a move rather than making any change simply because the market is anticipating one, and he notes that could portend trouble because the Fed has historically waited too long before acting. Also on the show -- and agreeing with the idea that the market is strong but due for a selloff is Jeffrey Bierman, chief market technician at TheoTrade.com, and the founder of TheQuantGuy.com. He says the market is driven by "the 4 N’s," which involve a market that is numb to all news, neutralized against all volatility, that has normalized inflation and momentum trading and that has "negated all valuation." That has se