DX has started a megaphone near the red megaphone VWAP, which is the minimum retrace target for this dip. DX is still likely to make it to the bottom of the blue rising megaphone before this dip is over and could go all the way to the red megaphone bottom.
The most likely scenario is the purple one, where the little pink megaphone keeps megaphoning. The moves within the megaphone would typically get wilder to put in retests of the 2016 low and the high at the beginning of 2017.
The purple scenario would usually complete as a triangle or diamond continuation pattern.