UPDATE 5:15: I updated my 1 minute chart (comment and a trendline)
Wave evidence since 956 top: Impulsing down in 5 wave structures and correcting back in 3 wave structures. That is very bearish and supports further decline is coming. Today's squiggles still supports that view. Until that trend changes, the Primary count will have to remain bearish.
Tomorrow is a key day. There will soon be the "third of a third" wave moment if the Primary count holds true. These are whats known as "points of recognition" as EWI likes to say. These are the moments that usually occur in the "third of a third" wave down in which the market realizes that its in trouble. Movement is swift and powerful. A 90% down day is typical.
This will be occurring right near an upper channel trendline. If the market can break out of this trendline to the upside, that would signal something else is happening likely a further correction higher and it indicates the severe downtrend will have been stopped and 888 will hold for a bit as the low. A break out of the channel allows the market to form more corrective structures (sideways) to allow an eventual move higher than 956.
So its come down to a decision point for the market: It either breaks out of the larger bear down channel or succumbs to a nasty wave [iii] move lower. Strictly looking at the wave evidence, the primary count is that the down move will happen.
If ever the market requires upside surprise to save the bear rally from being potentially ripped to shreds, the moment is now.