NDR's Clissold: Market low is not in, but could come without recession

Ed Clissold, chief US strategist at Ned Davis Research, says that the stock market has never bottomed before the start of a recession, so if the current downturn doesn't rise to that level yet but you think it will, then the bottom has not been reached. The market, historically, peaks about six months before a recession, and it appears to be climbing to that peak and perhaps holding it longer than normal. It mean, he said, that there is likely a rally that ends in trouble later this year. Meanwhile, Matt Harris, chief investment officer at The Hausberg Group, says that the market has been in a trendless environment for months, failing to reach higher highs or lower lows to signal either an uptrend or downtrend; he sees continued opportunities in individual stocks even as the market moves sideways until it sorts things out. Also on the show, Kyle Guske of New Constructs discusses a stock that looks good until you read the footnotes of its quarterly earnings filing carefully, but also highlights a stock investors might want to buy after reading its quarterly notes, and tax expert Ed Slott of IRAHelp.com talks about how changes to the tax code and also changing stock market conditions are impacting the tax-planning moves investors might want to make now.