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Dow Stuck in a Range


The DIA remains stuck in a range between (roughly) 122 and 121-120.80. Whichever side of the range is violated should trigger a potent follow-through in the direction of the breakout -- to 123 on the upside and to 119.80/60 on the downside. Let's notice that a break to the downside beneath 120.80 also violates the (very important) Aug-Oct support line -- a situation that will inflict meaningful damage to the near-term chart structure. Right now, given today's action thus far, the bulls apparently will have an opportunity to defend the lower support band at 120.80.
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