Market Comment (S&P 500 1178)

On August 20, 2005 I posted a MARKET ALERT. With the S&P 500 then at 1220, I postulated that a short term market correction was around the corner. Too many of the approximately 200 companies I follow had shown clear top signals on my unique price momentum models.

I said most groups, including the high flyers, were likely to get hurt. For greater detail take a look back at my ALERT posted on August 20, 2005.

As I write today, we are in the midst of the correction I foresaw at that time.