We have to start making higher highs instead of lower highs. If we break above $6596.5 then the chances of going back up to $7429.2 are good.
But if we start breaking these lows, the previous one being $6118.7, $5862.7, and the yearly low of $5763.3, then things will be very painful. Right now, as long as we're above the yearly low then we're going to be okay.
I really think it's up to a news event, such as an approval/denial, that'll trigger market makers to pump or dump. Keep eyes on the news, the yearly low, and the lower highs/higher highs.