SmartPortfolio's Welsh sees a 'head-fake rally' a fast decline with the real market move later this fall

Jim Welsh, macro strategist and portfolio manager at Smart Portfolios, said he expects the market to rally to rpughly 2,950 on the Standard and Poor's 500 ahead of the next Fed meeting, only to have the central bankers issue some sort of disappointing news around a rate cut that puts the market into a short tailspin down to the 2,750 range. From there, Welsh said, expect an oversold bounce that helps to fuel the next rally. Also on the show, author Caitlin Zaloom discusses the lengths parents go to in order to pay for college educations, we rebroadcast an interesting disagreement between Jeremiah Reithmiller and Steve Tresnan of HighTower Advisors on how to use alternative investments in a portfolio, and Michael Robinson of Money Map Press stops by to talk stocks in the Market Call.