Here is an hourly bar chart showing day session e-mini trading. The market has traded sideways for most of the day. An early break below yesterday's low on the consumer confidence number was quickly reversed. This makes me think that the e-minis will rally a little more and probably match the size of the early rally on Monday (purple rectangles).
By the end of the week I think the market will have dropped into the 1045-50 target zone highlighted by the green oval. The 1050 level would make this break the same size as the average of the past three reaction since the early July low at 866. The target are is also at the confluence of two trend lines you see on this chart.
Thus far I have no reason to think the drop from 1099 in the e-minis is anything but a normal correction within an ongoing up trend. If I am right about this then I think the market will soon begin a rally that will take it to 1120.