From "It is what it is department"
My take based on Multi time frames view. bottom finding steps : A. 1min. reversal pattern (checked) B. 5min. HH (checked) and C. next step is to focus on Hourly to see if the bottom will or will not sustain.
Note on a Daily on SPX , it triggered a buy the dip and MACD confirmed the buy is good, MACD histogram continues in an upward fashion. Good bottom sign unless the histogram bar closes lower then it will forewarn that the bottoming is weaken. keep it simple
Lets focus on Hourly, will it hold or will it failed. last action on hourly is a buy on Thursday's low, until that failed will I say last hope for the bulls is recent low. for now I am still leaning bullish and expected the recent high will be tested in coming week.
My comments are for entertainment/educational purpose only. NOT a trade advice.