Good afternoon, Elliott Wave fans. I’m Derek Bruce with Market Minute for Friday, August 16th.

The Dow Jones Utility Average rallied to a new all-time intraday high at 833.94. The Dow Industrials closed at 25,886.01, up 306.62 points. The S&P 500 closed at 2,888.68, up 41.08 points. The NASDAQ Composite closed at 7,895.99, up 129.37 points.

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