Range trading between the parallels continues as it has done since last year's election low.
It' looks like it should fall back to 3267 where it becomes a buy again with stops just under 3250.
It should make a strong rally from here back up to 3575 for about 300 points gain, with
the first level of resistance at 3344 (close out first long here). A subsequent move above 3344
will be very positive for this index, taking up to 3435-3444 range before it falls away to
3380 at which point it should move higher to the 3575 target - at which point it becomes a short again
If this long call from 3266 is wrong, it means that the lower parallel that has guided this up-wave from
inception is also failing, an extremely outcome should the stop at 3245 fail, signalling a move
back to 3168-3148 range (and a complete reversal of positions into near-term shorts) where this
index becomes a strong buy again.