If this rebound is the red [iv] in Chart 1, red wave [v] should be in progress (but squiggles are unclear). Otherwise, a much deeper retrace is likely (Chart 2, blue).
[1130am]SPX update-
Tracking counts and squiggles. See charts.
[810am] ES update-
Two near term tracking counts (blue and red) and squiggles. See charts.
