Bottoms are a Process

not an event. And it looks like that battle is being fought at the declining 5 DMA right now. Also note the location of the downtrend line. Odds still favor further consolidation, but if the buyers can hold onto control by maintaining higher lows above 4790, the market could see a pop up to 4850 and if shorts from yesterday panic 4900 is even doable. The buyers havent fully taken control back yet, but they are making progress.