We're right on it this morning after testing and bouncing yesterday to close unched for the year.
Managing risk, I went back to the 2009 lows and connected the dots.
The new trend line coincides perfectly with the October, 2007 peak.
Not a prediction, and this move could take some time, but if the selling intensifies, I'd rather be prepared.
Also, bear markets are defined by a 20% move off the highs.
2000 * .8 = 1600...which is right on the new trend line.