Here are three reasons why you should be cautious near term. We’re bumping up against a bunch of big round numbers.

Dow Jones Nearing 25,000

S&P 500 Nearing 2700

NASDAQ Composite at 7000

I expect we will go through these levels before the intermediate cycle tops, but there is a small chance these levels could force a more significant top. Still expecting higher highs in 2018. Just a note of caution.

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