This should bounce up now from weekly sma 200 (~5200) up to daily sma 200 (~8500). This is normal in both bearish and bullish counts.
I personally do not like tails left below triangle by panic sells. This could be either real bear trap before my green counts or bear hints before red counts.
Red and green counts now have equal probability for me.
I remind, red will just delay big bull run by one-two years in my vision. While green one may start bull run in few months.