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Weather.com and wunderground say its quite warm in Yosemite Valley, up to 60 or so during the day on Friday/Saturday. Assuming its much cooler on top of El Capitan? How would this impact Horsetail?
The word is there is some snow up on top of El Capitan, so in theory, the warmer it is, the more that will melt, and the more that will flow down Horsetail Falls. But as someone else pointed out from the Yosemite Webcams, the flow off of Yosemite Falls is down quite a bit from where it was 6 weeks ago with all the storms in there. Now two different water sources, except they are both high country water sources, so it can help to give an idea.
I would say from what we heard, that water flow on Horsetail will be there, but be very light. I am not sure what is going to change in the next few days to change from what the first hand reports have been over the last few days. Now wait a week, there is supposed to maybe be some precipitation there during the week, that will help. And also as it get's later, more sun will hit the surface face where Horsetail Falls is, so even if the water isn't flowing super well, with the face of the rock being lit up a bit by the sun, a person can still get some kind of cool shots.