Right now, the weekly signal aims for a target slightly higher than this validation I level I mentioned, at 227.47, and we're almost hitting the first signal that got confirmed after the downtrend failed after the election. The blue box shows the downtrend signal that had confirmed 1 week before the election, for those curious, and the failure, with prices coming back above the mode, or most frequent price level from the top, triggered a short squeeze rally that pointed to $222. The last weekly uptrend signal can technically last until either we hit 227.47, or expire by February 24th, 2017.
In the background, you can see the long term uptrend signal target, at $251.18 to be hit by or before July 2018.
How do we trade this? If we close December up, we can easily expect to buy any dip on January/February. If we get a dip soon, we can take a shorter term entry again, but there's no entry yet. December FOMC might give us an entry on a decline, but we'll have to wait and see. Right now, I'd reccomend waiting, but don't close your active longs in profit, in equities.