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To: robert b furman who wrote (2629)	8/19/2013 3:01:15 PM
From: Return to Sender	Read Replies (1) \| Respond to of 8248

Note that actual earnings growth for the S&P 500 has gone negative in every sector other than financials. On top of that actual earnings for the S&P 500 is nearly as high as it was in 2007 at the market top. Plus with the FED promising to begin tapering at the very time that earnings are already peaking and it might be wise to expect actual earnings for next year will be disappointing. multpl.com Of course I could look back at this post in a year and laugh. Why not? I'm laughing now. I expect this current sell off to be bought and the market should rally on to new highs later this year. That said I think the next set of new highs for the market might be the last. Lets keep an eye on those charts I posted yesterday to see what happens then. If the number of new highs is dramatically lower than the recent top? Who knows then we could see another major market top this year. RtS