I'm leaning towards short term bullish if we cannot close below $3830.1. If bulls can defend this level, we could see a run up to about the $4600-$4700 level, before ultimately making another leg down. Whether this leg down holds as a higher low is to be seen. However, judging by how impulsive our move down has been and the lack of bullish follow through, I'm leaning to further downside in the medium term. With that said, if we do see further downside, I'm targeting anywhere between $2700-$2400 as a conservative bottom.