BUFFALO, N.Y. (WIVB)– Some financial analysts are warning a recession could be in the near future.

Those analysts say the economy is slowly growing and if you look at the Dow over the last several months, there’s an indication that’s true, but there are a few warning signs that could soon change.

Steven Elwell is the Chief Investment Officer at Amherst-based Level Financial Advisors.

He says these warning signs don’t guarantee that a recession is coming but they’re just that, a warning that it might.

Here’s the big thing he’s noticing.

Right now, long term interest rates are lower than short term interest rates. That’s called an inversion of the yield curve. It’s usually not the case and Elwell says it often precedes a recession.

So here are a few reminders he has for you, just in case.

“They should always have three to six months worth of living expenses in cash and savings. Liquid savings. Just in case something does happen. If a big recession hits and jobs are cut, and you’re unfortunate enough to lose your job, you should have a little bit of a cushion there to give you some time to find a new one. Beyond that, from an investment standpoint, you always want to diversify,” Elwell says.

The idea behind that, if you have different investments when a recession hits, it’s more likely some of them may do well.

A recession is defined as two consecutive quarters of GDP decline.

Often times the stock market can predict one if it tanks. Though not always, Elwell points out.