It seems that SPX is moving down in either a 1-2-3 impulse for the Wave A of a bigger correction or as Wave A) - B) - C) for a Zig Zag.
As of now it seems to be moving fast and hence looks more like a Wave 3) but could also be Wave C).
In either case the Wave is not complete yet and hence expect more downside from here.
Target : 2414
I will update further as this market continues.