This is a sketch of the current scenario I am entertaining. It implies more upside and I am conflicted with my bearish view.
Looks like that current move to the upside is an impulsive 3rd wave up from the initial bounce of the bottom on June 17th. Not a correction of the move down to me anymore.
This is inferred from the 161.8%+ move up and it implies that the upcoming move down (4th wave) could only be shallow and followed by more upside.