The Takeaway: And so begins the most anticipated correction in history

Portfolio

Signs that we’ve hit a top (at least temporarily) – less stocks above their short-term moving averages, narrowing leadership. (Downtown Trader)

The drugs are still set up for a breakout, despite the broader market. (Dragonfly Capital)

Right now, the consensus is that this pullback will be shallow and quickly bought. Do you know anyone who thinks otherwise? (All Star Charts)

The Biz

Here’s something you almost never see – all 12 regional Federal Reserve banks unite behind money market fund reform. (Economix)

“Advice is not a transaction.” (The Reformed Broker)

The best and worst mutual funds by style. (WealthManagement)

Key Corp exits the brokerage, investment management biz. (Financial Planning)

Bill Gross on the one-year anniversary of the BOND ETF. (Kiplingers)

Outliers

Pssst….wanna by Mack the Knife’s upper east side apartment? (Dealbreaker)

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Disclaimer: Joshua Brown is an investment advisor representative with Fusion Analytics. The content above is for informational purposes only, nothing here should ever be construed as investment advice or a solicitation to trade any securities. Mr. Brown or his firm may be long or short securities mentioned above for client or personal accounts at any time.