There might not be terrific upside, but the downside looks limited (in the short-run). In the longer-term, The markets are going to have to demonstrate the ability to overcome resistance levels. And the resistance levels I think they have to overcome would be a Nasdaq close above 1805 level, and an S&P 500 close above
Immediate Nasdaq support intraday support is 1746-1741. The more substantial support as depicted by the daily charts is 1742-1696.
Immediate intraday resistance for the NASDAQ is 1753-1772 and 1769-1803 whih makes the 1769-1772 area a focus of resistance
The S&P 500 has immediate resistance 1117-1136 with a focus of resistance 1121-1125.
The S&P 500 has immediate intraday support 1109-1102. The large band of buying support in the daily charts is 1111-1052 and this past week's price action found support right in the upper edge of this 1111-1052 area.