Piper Sandler's Johnson: Volatile market will flatten out from here

Craig Johnson, senior research analyst at Piper Sandler, says that the Dow Jones Industrial Average, Standard & poor's 500 and the Nasdaq Composite are all "trading at the very upper end of an 18-month trading range and this is not usually where you start a whole other leg higher," so he expects a correction back to about 4,600 on the S&P in the next six weeks. When that move is finished, Johnson expects the market to resume its upturn but then to settle into a "high-level trading range," which he says is typical of election years and that it amounts to a sideways move. In that environment, the market will recover from the correction, and then he notes that he thinks it will fizzle and go sideways. Also on the show, Wade Pfau, professor of retirement income at The American College of Financial Services, discusses the latest updated to his "Retirement Planning Guidebook," which center around "tax mapping" and how investors may want to rethink investment strategies in retirement with an eye on minimizing taxes using strategies most haven't considered before now. In the Market Call, Scott Davies, founder/chief investment officer at CDAM, talks about "fire and forget" investing.