The Dow Is Currently Meeting 2 Important Trendlines, One Dating Back 7 Years Of This Bull Market

by SpontaneousDisorder

The market has drawn these out. I think the combination of rallying to meet these lines with the tremendously overbought technical condition of the stock market makes this important.
This chart shows parallel trendlines for the middle portion of this bull (wave 3) although wave 5 (within this wave 3) didn’t manage to hit the upper line again.

The S&P is doing exactly the same thing in arithmetic scale.

S&P trendline touch