Its a moot point as we'll likely know how overnight futures plays out on whether a Friday strong bounce will come.
However note how the recent surge to the 1470 "test" occurred on what can be argued is an ending expanding diagonal triangle. Not only an ED pattern (which is weak price action) it may have truncated (weaker still).
Add up the following wave evidence and you have: 1) possible small ending expanding diagonal triangle with 2) possible truncation and 3) possible 2 year rising bearish converging wedge which is showing signs of not being able to break above its upper wedgeline and you have the potential recipe for a market collapse disaster.
Wilshire hourly chart again shows the up channel (green) is in peril.