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Markets Show A Little Weakness

ByWarren Bevan
Published 09/26/2017, 12:16 AM
Updated 07/09/2023, 06:31 AM

"Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it." —Greg Anderson

One more reason I’m retiring at the end of this week and month is my love of travel.

I’m heading out for one last bike ride tomorrow for the rest of the week with an old friend I haven’t seen in more than a decade so I’ll knock out this letter and blog tonight, instead of the normal Tuesday, so I can enjoy my evening away and then I’ll have one out on Thursday, for the final time.

We saw markets show a little weakness today along with the usual market leaders like Amazon.com Inc (NASDAQ:AMZN), Facebook Inc (NASDAQ:FB), Priceline.com Incorporated (NASDAQ:PCLN), Google (NASDAQ:GOOGL) but you get the point.

That’s why NASDAQ was down so much but many other stocks are holding up and continue to look great, so far.

I remain quite heavy into stocks but am being stopped out or locking in gains as my process unfolds, although I did buy some Eldorado Gold Corporation (NYSE:EGO) today with gold taking the turn by the looks of it.

SPY Daily Chart

Maybe the outline of a new range, or Darvas box as some would call it.

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