Market in Correction Mode

The major market averages were lower all day and closed to the downside.  All the major averages now have patterns of lower highs and lower lows. This is the definition of a downtrend. The market is in official correction  mode now.

The S&P 500 futures are selling off hard as of this writing, so Tuesday could also be an ugly day.

Our risk management system is showing its effectiveness again.  All GWM Model Portfolios are currently well positioned to minimize account loses and weather this downturn.

Because we have plenty of cash on the sidelines we will be better positioned to take advantage of this downturn and pick up some bargains when the bull market resumes. 

(Click on chart for easier viewing)