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February 22, 1983

The Dow Jones Industrial Average backed off the 1,100 mark once again last week, as investors automatically sold stocks once the average reached this historic level. For the week, the Dow closed at 1,092.82, up 6.32 points. Analysts said they were encouraged the pullback had not become a rout. In order for the market to move up again, some analysts said, interest rates would have to decline again. Last week, short-term interest rates remained stable.