A Quick Thought After A Bad Day

Today was a bad day for stocks with the major indices all down over a percent.  Before we get too excited about this, let's remember that all the convulsions that happened in the markets brings most major averages back to where they were about two weeks ago.  The rest of this year's gains are still intact.  I don't know what tomorrow is going to bring but even if we see more of the same we're nowhere near correction territory, although markets are over-bought.  

A bit of profit taking was and is to be expected at some point and perhaps this is it.

Back Tuesday next week unless there's a reason to break in.