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Tuesday, August 08, 2006

DJIA Hitting Resistance

The Dow has been trading between 10,680 and 11,280 for the last 2 months. A good support base in place, but a resistance level is also continuing to build.

If the Dow has a slight pullback and is then able to break this upper level, it should see the 11,400 - 11,600 range in no time. Failure to break through could return us back to the 11,000 and even 10,800 area.

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