The index has declined 61.49% since 6/20/2007 to 3/09/2009. According to the Elliott Wave Principle this is very close to the deepest and important Fibonacci level(61.8)%, required for second wave retrace. Then 3 waves up until 2/11/2010, and then almost one year lateral track, probably accumulating the power for the 3th Primary wave.
I've labeled the sideways structure as completed complex correction, finished in 8/25/2010. And then first Minor wave contains five overlapping waves, and forms typical leading diagonal. This pattern occurs usually in first of the third wave.
The structure in four hours bars look impulsive as well, and we have five impulsive waves up, and 3 waves against the leading diagonal.
Next resistance is 2902,39. Support 2632,89.
Most likely we are in the 3th Minor of the (1)st Intermediate of the 3th Primary. Most likely we are in long term bull market.
Next short term terget occurs 2982,48. Then 3197,48.
Good luck trading