Here is a 30 minute bar chart showing day session e-mini trading. I think the drop from yesterday's high at 1176.50 will end late today or on Monday. I expect the low to develop somewhere in the green oval, i.e. in the 1154-56 zone. This marks the confluence of the two lower channel lines I have drawn on this chart. It is also midpoint support (purple dotted line). Finally, a reaction which ends in that zone will be only a tad bigger than the previous reaction you see on this chart.
Early next week I think a move upward will start. I expect the market to be much stronger than it has been during the past 10 days. The first step upward will probably carry to 1185. By the end of May I think the ES will have reached or exceeded the 1225 level.