Big gaps can lead to trend days.
Will we get continuation to the downside, or will we reverse back up into the trading range. Big picture, the trend is DOWN, which suggests an eventual test of the next swing low. The 5 day moving average of the closing Tick is just turning down too, and again, is not anywhere near oversold. You can see on the bar chart that we have converging trendlines, implying that the market is poised to break out.