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Dow daily 05/06/13

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The Dow found support at the intermediate uptrend channel last night but if this wave count is correct then it ought to break through that trendline towards the 38.2% Fib level at around 14534.

As long as the trendline holds then higher price could follow.

Note the support from the subwave 4 low at 14444 - that should not get broken by this correction even if the channel gets broken.
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