On the Algo time cycle we still have a downward bias. Key levels are 2435.5 and 2418.5 so if you are short you will need to see 2418.5 taken out on either Monday or Tuesday. If you are long then you will need to see 2435.5 taken out in the same time frame. Since the bias is for more down until 8/27 any counter-trend play should have tight stops in place and be temporary in nature.