In a similar fashion to its DJI brethren, the IXIC is trying to break out of its "Channel" formation in an effort to move higher.
Given this move, the IXIC is trying to make a run for 7,879 - a Key Monthly Resistance Level (Blue) for the index.
One thing to lend support for the IXIC to move higher, is the fact that its RSI is showing positive divergence with current price action. Nonetheless, for the IXIC to continue pressing forward, if the RSI can break above its red downward trend line, it would further strengthen the IXIC upward trend.
If the IXIC can successfully "Breach and Close" above 7,879, it would be a good sign for the market.