Mid-term trend was bearish (DROP), now Market is trending in Range between 540 and 575(BASE). In last month bulls attempted 4 times to break 575 level and they are gaining strength (moved the market by 50 points - 540 to 600) during last 2 weeks. Possible breakout above 575 will give 50 points up move.
In past bulls have pulled up the market by 200 points, Bears failed to break 1300 area. Even a range-bound market needs a 100 points window to consolidate, the immediate resistance is at 1400(Target 1).