Yesterday's dip did something important -- it went just deep enough to establish a clear trendline between waves 2 and 4 of the larger structure. SPX 1994 is significant, too, because adding 40 pts to it (wave 1 from 1904 to 1944), gives us 2034 SPX as a target for W5.
Draghi probably disappoints tomorrow, but not enough to crash the markets just yet. The conventional market wisdom from the financial media will then shift to ask what the Fed has to say in two weeks.
Can VIX droop down to the low 10s? This would be an awful 2 weeks of a market drifting slowly upward in this range.