Removing the 1998/2000 excess allows to extract an hypothetical channel.
The bigger channel is there for the general idea.
The Channel that actually matters for trading (the dashed one), would also be at 12,500 in Jul15.
To keep on the radar if manages to reaches that target on time.
Other note: by july at 12,500 the rally from Oct14 to Jul15 will look similar to the Sep99/Mar00 climax
