When we zoom out and look at the monthly, we could have completed Wave C of the Elliott Wave. If this is the case, we are currently on Wave D which ends between 2k-2.5k before an epic bull run up to the ~100kish area. Much more data is needed as we are at a pivotal point at 10k.
Anything *could* happen, but the odds of dropping that low are about a billion to one. A full parabolic correction would have put us around 4K. In any case, all signs are pointing to bull. I think the bottom is in.