Last week the market took advantage of the quiet period before Labor Day pushing the markets up, but still down -1.6% in August for the S&P 500. The market was led by technology. Although the market has recently broadened out, the top 7 stocks comprise 70% of the year-to-date return for the S&P 500. We think the markets will continue to broaden with the Equal Weight S&P 500 and small caps in the Russell 2000 playing catch-up.

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