ayalp on my post O Mandelbrot, O Mandelbrot made some fantastic observations regarding the trendline connection of the Wave 2 retracements peaks on the Dow Industrials. (http://marketthoughtsandanalysis.blogspot.com/2010/01/o-mandelbrot-o-mandelbrot.html#comment-29885004).
I, and many others, have drawn this trendline from the Oct 2007 peak. But this line gives a slightly different perspective on those peaks and the potential long term channel.
It also forms a very nice line on the SPX. Very interesting stuff!