The 2016 decline is clearly corrective in nature thusfar as it stays above the lows. So I anticipate the potential for a strong Bull move.
No break of the descending trendline yet, but a potential impulse c wave at the end of a WXY pattern is showing. Some divergence in Comp Index and a nice strong Bull milestone candle.
Market hasn't proven itself yet by breaking the sharp descending blue trendlines yet, but I'd say a move and close over 4.50 would be a Bullish event. Maybe wait for a first pullback for a Long and Dividend farming opportunity into Jan-Feb 2017.