Zacks' Mian says the market's worst downward pressures have passed

Sheraz Mian, director of research at Zacks Investment Research, says we may be 'close to the finish line with respect to how much [earnings estimates] needed to come down,' noting that earnings estimates have already come down about as far as they are likely to. Still, that doesn't give Mian reason to expect a strong rebound; he says corporate performance will lag the earnings cycle, which will lead to a sideways market with the real rebound to come in 2024. In the Talking Technicals segment, Jason Brown of The Brown Report says that he believes the market has stopped falling but has moved into a sideways channel, which could last for a while but which will help to build a base for a new bull market rally. Also on the show, Vince Shorb of the National Financial Educators Council discusses a survey showing that Americans believe they are losing a big chunk of money every year to their own financial illiteracy. In The Market Call, Mark Salzinger, chief investment officer at Salzinger Sheaff Brock, talks about traditional funds and ETFs.