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  • There goes 3,800 on $SPX
  • oy that's a nasty candle on the $SPX two hour chart $SPY $ES https://t.co/z95ReMpglC
  • #Gold continues to head lower today, currently near the $1,730 level. The precious metal is trading at its lowest levels since June. $XAU $GLD https://t.co/V2jRiiG7kJ
  • $SPX is at its lows. The bounce has yet to materialize. Better pull together the BTD, Diamond Hands and Laser Eyes to form a Voltron of speculative power
  • The stimulus checks filtered into the last month's US personal income measure with a massive 11% increase. Spending wasn't as dramatic but still impressive up 2% https://t.co/gX7cLwiVqX
  • Commodities Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Gold: -1.82% Oil - US Crude: -1.94% Silver: -3.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/8iK8kRkwIQ
  • Japan Minister of Finance Aso: - Yellen said she had no intention of tightening policy - Global economy faces uncertainty, warrants caution $JPY $USD
  • 🇺🇸 Michigan Consumer Sentiment Final (FEB) Actual: 76.8 Expected: 76.5 Previous: 79 https://www.dailyfx.com/economic-calendar#2021-02-26
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.33%, while traders in GBP/JPY are at opposite extremes with 66.91%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mBZdvvxuDB
  • $Gold quick check back to resistance at prior support and then slide, now testing through that 1750 level https://t.co/ngyTPVtiec https://t.co/wYcyYPzbUP
Dow Jones Technical Look – Levels, Lines to Watch in the Short-term

Dow Jones Technical Look – Levels, Lines to Watch in the Short-term

Paul Robinson, Strategist

The Dow Jones continues to propel higher after a breach of the channel it was recently contained within; but as discussed yesterday, what is viewed as the more important index – NDX – continues to maintain its orderly ascent. This helped keep the Dow and S&P breaches in perspective as potentially transient events. To reach a new record the Dow needs to break 31272. If it does, then a pair of top-side trend-lines (from June & November) are in near confluence near 31800 and could be the next top-side objective. On the down-side, support clocks in right around the 30k mark and March trend-line.

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Dow Jones Daily Chart (31272, top-side trend-lines to watch)

Dow Jones daily chart

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---Written by Paul Robinson, Market Analyst

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