The Qs obliged in forming a sell fractal pivot which is formed by a low with two higher lows on either side of it. (See the book Trading Chaos by Bill Williams.) This means that a break of Friday's low would confirm a short term change in the trend. This would also be accompanied by a break of the trend line for another confirmation of a trend change.
The rally from Friday's low does not appear impulsive, but additional upside cannot be ruled out. Silver and oil are breaking down which may be leading stocks to the downside, but the key factor here seems to be the Dollar as it has been unable to turn to the upside, an event that should put an end to this rally.