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Jan 30, 2023

Jeffrey Hirsch, editor of the Stock Trader's Almanac, says the market is likely to close the month having achieved the 'January trifecta,' which is a Santa Claus rally (over the last five trading days of the old year and first two of the new), plus a positive January barometer -- where January's results set a trend for the year -- and then the 'first five days early warning system,' which holds that if the first five trading days of the year are up the full year's results have been positive more than 80 percent of the time. With two of those three indicators set and the third likely to be confirmed when the month ends tomorrow, Hirsch notes that his firm has upped its 2023 outlook to a 'best case scenario' for above-average pre-election year gains of 15 to 20 percent. If there's a surprise, Hirsch says, it is that the projection would be too low. Also on the show, Christian Mitchell discusses the latest results from Northwestern Mutual's 2022 'Planning and Progress Study,' which shows that Generation Z has big hopes for retiring younger than its older cohorts, a notion that will be tough to pull off; David Trainer of New Constructs puts Opendoor in the Danger Zone, noting that its a zombie stock that could run out of money before the end of the summer, and author Mark Miller chats about his latest book, Retirement Reboot, and how savings strapped pre-retirees can regain control of their financial future.