It appears the suspected decline is underway AND it looks impulsive suggesting it is not over yet. Maybe for the short term but it looks like we are in for a couple of weeks of weakness and if we are correct, we would need at minimum an ABC down to complete a corrective decline of some sort before another serious wave of buying emerges.
For the very short term the bears look a bit exhausted and we might see the bulls nibbling at the market before another round of selling push the Russell 2000 lower to end the first leg of three wave affair which is our minimum expectation.