It's hard to see but I drew yesterday's down pattern-wave count. We have seen that pattern a few times... should probably keep and eye out for it... it's an ABC... But presents whth what looks like a developing 3rd wave... and then the 4th wave gets long and the 5the wave fails.
In red I have the ABC pattern... we have the uptrend from the closing there... we should have a continuation of that pattern, or a small downwave... after that we should get a 3rd wave to teh upside.... With some short covering as the Bears get Boot stomped.

I think it's going to be likly that we have "Bear Capitulation" before the downtrend will start again.
Our new wave counts start yesterday at 3:30 With Wave 1... at a minimum I expect wave 2 today.. we may see some bears pile into a sell off morning trade... that trade hasn't worked in so long...