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Both the Dow industrials and transports closed at new rally highs last week, with the transports up 2% on Friday. This is a positive sign. The industrials reached the 100% target where the rally from c to d equals the a-to-b rally. The 100% target in the transports is at 4400. The 161.8% target is at 5210 and just under 12,000 for the industrials.
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