It looks like the uptrend channel is broken. This could be an "overthrow" and the uptrend may resume. If the downtrend continues, it could possibly retrace to 21763 to consolidate recent gains. Overall, I think this is short-lived, long term I'm bullish for US indicies.
Silver looks to be completing a 5 wave up structure. My target is roughly 22.20 - which follows the rule of equality - same length as wave one. Corrective A-B-C structure to follow.