Last time we had extremely strong move along the lines of yesterday's move, the market consolidated for 2 days before continuing on higher. Utilities which made all time highs last week have sliced through their 200 day EMA to the downside, too.
LIquidity is poor, and on trading range days, the turning points are very spikey.
You can draw a trendline between points 1 and 3 and a test and reversal through the trendline at point 5 is the Buy. Drawing a trendline between points 1-4 gives the projected exite area. The market just fell short.