A small going down below the line indicates nothing. Its not a rigid line drawn by the laws of nature, only a statistical line.
It will bounce up nicely, but will take several months to get in a bull market.
I hope it bounces up, too, but don't we need a higher volume for this to be significant? RIght now it only looks like a continuation of the bleeding out that's been going on for quite some time now and that can't be good for anything, this just pushes the price down further, and isn't causing any support to remain valid.
Thats why I am hoping the drop down to 250-260 happens fast. It will provide the momentum for the upward movement.
As you pointed out a slow bleeding does not help but I think the capitulation is coming soon.