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Week of August 21, 2017 – Consumers are Fine

The markets took note of the drama and sold off last week. The Dow was down 0.8%, the S&P was down 0.7%, and the Nasdaq was down 0.6%. Thursday the S&P was down 1.5%. It is a shame because the economy is doing well.

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Week of August 7, 2017 – Explanation of P E

Bottom line: both the trend in interest rates (lower yields) and the trend in the overall market (the tape) are bullish. The balance of evidence remains bullish for both equities and fixed income.

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