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<h2>July 16, 2021:  Given the emergence of recent technical divergences...</h2>
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<p>We are recommending the following incremental reductions in the Model Fund Portfolio:</p>
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<ul><li><strong>Decrease the allocation to the Invesco S&amp;P 500 Equal Weight Technology ETF (symbol: RYT) from 15% to 14%.</strong></li><li><strong>Decrease the allocation to the Industrial Select Sector SPDR ETF (symbol: XLI) from 9% to 8%.</strong></li></ul>
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<p>Future changes will be made depending on how the weight of the evidence develops. The Model Fund Portfolio is now 78% invested, with 22% held in short-term Treasurys or a money market fund.</p>
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