you really can't know what kind of impact the supply/demand imbalance created and what an aggressive management might do. yes, generally, "healing time" is in order, but not necessarily so when the weakness was a very temporary artificial construct.
Sometimes the technicals can tell you what's happening with the fundamentals before the information surfaces and reaches us in the "general public". And sometimes the technical movements are just a function of so many people feeding off and playing technicals that they create all kinds of self-fulfilling prophecies. But there are also instances where the news and fundamentals creates the technical action, and is known.
I don't mean to start a major back and forth over the value of pure blind charting and technicals. Suffice it to say I think they are not definitive in a vacuum, nor an end to themselves.