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August 16, 2017


We are in the final stretch of this up and down cycle, with just 2 days to go until expiration. The Dow has nearly recovered all of its one-day losses suffered last week and is on pace to close the week with solid gains. The index was able to close above the 22,000 level today and is within 100 points of another record closing high. The markets continue to shrug off any domestic or international conflict and will probably push higher, at least until September. Investors believe that profit taking may occur in the final weeks of the 3rd quarter as the markets continue to overextend themselves.