Elliott Wave's Gilburt: Expect trouble when the current rally ends

Avi Gilburt, founder of the Elliott Wave Trader, expects the stock market to reach new highs, but thinks the current rally will carry to those record levels by no later than the second quarter of 2024, after which he says "a bear market is going to be in our future." Additionally, he says there will be a banking crisis that is part of the bear market, notig that systemic issues with the banking system will create trouble that "will likely be worse than what we saw in 2008," when troubles in the financials sector were cornerstone to the Great Financial Crisis. Brenda Langenfeld, portfolio manager for Nuveen, says that banking environment will actually create opportunities for investors in preferred securities, noting that heightened banking regulatory oversight will be favorable for credit investors, that positive fundamentals suggest stability and growth and that valuations are at levels "that present a capital appreciation opportunity over the next year." Also on the show: Charles Rotblut discusses the latest sentiment survey from the American Association of Individual Investors, which shows levels of bullishness at their highest levels in more than two and a half years, and portfolio manager Francisco Bido of F/m Acceleration brings his quant-active investment style to the Market Call.