There is a nice Fibo confluence of resistance there of both large and smaller degree waves down. Also this wave up has a nice A-B-C structure with A=C and a messy expanding triangle for B taking it right to the same level. Gives this a good shot at being the turning point back down. Still holding everything short except the biotech BIS closed with a nice gain. Oh add that is fufilled backtesting the wave 4 area another EW rule.
On that weekly chart the big two day pop does not look that impressive...no candlestick reversal that I know of. I see a A-B-C corrective wave structure in this rally on 5 min. My system is a hair from pulling my shorts!