i could be wrong...again... but...
the first rally this morning did not look like a completed 5th of c up completion which would trigger the C down.. 1330??
so, for now, i would consider that rally 1 of 5th of c up... then the whips make an a...abc-b... and the late day drop c of 2 of 5th of larger abc.
if that is so and if i am stating it right and if the fates align with ants on my chart... we 'should' rally again.. and i would look for strong 3, little 4 and 5 up to the 1388 area... 1390 to 95 even... and THEN the big C down to 1330?? 1290?? see how it counts out.

just how i look at it at the moment...pretty meaningless... as it 'could' just tank here... ... i think it early.. don't expect a tank while piles of put options are still alive.. we shall see.
enjoy your posts.. charts..ideas. cheers, jhn