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FLAGS AND PENNANTS  |  February 23, 2004
The CAC Breaks Out Of A Consolidation
The CAC (French index) broke out of the 3720 level to target the next level of 3840. Most European indexes entered a consolidation before the Dow and are breaking out before the Dow completes its consolidation. Looking for such intermarket relationships can help in analyzing the Dow.
by Ashwani Gujral

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