sandy, I posted a similar chart some weeks back. I noted that the support line going back to the 1995 breakout coincides with a 61.8% retrace of the entire bull market since 2002. That seems like a logical low to me for this bear market.....a bit above 9800.
One disclaimer is that the comment was made to me that if I was going back that far i should use a log scale...which voids my findings.
Nonetheless........
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