S&P 500 5% Days

From Bespoke Investment Group:

...Before getting too far ahead of ourselves though, we would note that today's gain is the eighth one-day rally of 5% or more since the S&P 500 peaked in October 2007, and we're lower now than we were at the close of any of those seven other days.

I'll go with Faber on the timeline, at least three, maybe six weeks before we see a change in direction, i.e. more than a one day move.