On Thursday afternoon, Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on CNBC's"Closing Bell"for a roundtable discussion of the Dow Jones Industrial Average, which just shattered 17,000 points.
Fueling its climb was jobs data released Thursday showing that the U.S. economy added another 288,000 jobs in June. Also, the official unemployment rate fell to 6.1%, its lowest level since September 2008.
But the sheer duration of this bull market – which has now lasted more than 1,000 days -suggests a correction could be in store for the Dow Jones and other indexes. Further jobs data was also a cause of concern. June full-time jobs dipped by more than 500,000, while part-time jobs rose by 800,000 – the most since 1993.
"It would be natural to have a correction in here but the payroll data may – emphasize "may" – just be a good thing," Fitz-Gerald said. "But the pendulum does in fact swing violently when we get these kinds of massive market moves."
Watch the following video for Fitz-Gerald's investing insight on the best market moves to make now to prepare.
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