Trend line dating back to 1970 hit

I posted on a curious observation of a market trend line dating back to 1970, in March 2010. Back then I pontificated we may see the market hit 1200-1250 range, to hit the long term trend line.

Well we got it, and on the 4-16 the market recoiled. Curious to see in the next few months if this line holds or we can break substantially through it. Before 1995, hitting the line usually resulted in a market retreat.

From WebSufinMurfs FinancialBlog2