There is a retracement within a well defined long term up trend. Since the from 2009 is so thick, there will surely be an oscillation of thinner channel touching both top & bottom.
As i can see clearly, ever since the price was rejected twice by R2 (mathematically once by Channel-A top and once by Channel-B top, what a coincident), which is why i think IUX is a two timer.
Another drop will see price hitting S2 which almost coincide with Channel-A bottom. Failing to hold, we have Channel-B bottom and S3 waiting further down.
I am eager to see whether S2 is strong enough to support or not.