Money Life With Chuck Jaffe Daily Podcast

Jim Welsh, author of “Macro Tides” and the “Weekly Technical Review,” says the technical signals that have been evident since November — with the market making new highs while fewer stocks are advancing — are "a warning sign should a reason to sell appear, and I think we're going to get one of those." Welsh thinks that tariffs and the new administration's determination to use them will likely be that trigger; while he expects the market to make one more high in the short-term, he says that if tariffs have a harmful impact, the market is setting up a 10 to 15 percent pullback in the market later this year. Julia Hermann, global market strategist at New York Life Investments thinks the economy is strong enough to overcome all but an exogenous shock — something at the more severe end of Welsh's spectrum — without a recession, although her outlook remains for "a very bumpy market environment." Jim Baker, president of the Kayne Anderson Energy Infrastructure Fund, says that the energy infrastructure space — which