Overview

• US economy avoids recession but faces potential slowdown as consumer strength may be overstated.
• Market momentum expected to wane with signs of 'cracks' in the economy and rising consumer debt.
• S&P 500 and Nasdaq Composite may need a pause after significant rallies, amidst concerns of overextension.
• Investment strategies shift towards diversification, with recommendations for mid-caps, small caps, and specific sectors.
• Economist who predicted 2008 recession warns of a potential stock market bubble and upcoming correction.