As we can see on the hourly chart, after the ES S&P futures hit trend resistance, and an ostensible 5 day cycle projection of 4478.
We also saw a classic negative divergence at on the hourly oscillators at the high.
As far as how far down on the first move, trend support is indicated around 4430
This is just the intraday look. For more: Bullish Intermediate Term Omens
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