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DC and LEOVIRGO, I'm sure you prefer to come up with your own research/levels etc. but just for interest, this guy has produced some spookily accurate reversal levels on the DOW recently, like to within 1 or 2 points. Its worth a look (I'm referring to "todays levels" rather than the longer term ones;
http://futures.fxstreet.com/Futures/content/100340/content.asp?menu=index
http://futures.fxstreet.com/Futures/content/100340/content.asp?menu=index