The pop on last Thursday morning interrupted the that had been built for days. A resistant structure was expected, the rejection happened earlier today lead to the third wave of this correction. After inspecting the sub-waves, I believe the correction is likely to be a instead of an up-trending triangle. Also, since usually appear in a 3-3-5 form, we might to see longer wave C. The end sits in channel 1280-1310, which is also support as well.
If you are a swing trader, consider picking up some bottomed Altas at each downtrend correction. Top 5 should NOT be affected too much.