While I was correct in the direction, I was wrong in degree. The herd, after all, is a living organism. That is why the use of intelligently placed stops are mandatory. That "bounce to the prior 4th" model was blown out as shown below. But I count 5 waves up as being complete here so at the very least we should expect a pullback to 5085.
UVXY (below) also looks like 5 down have just transpired so I am in premarket $27.75 with 15 cent trailing stop. I expect a bounce to at least $33.50 and could be much higher.
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