The trend is down

$SPX chose option "(1)" from yesterday, to move higher today, reaching 1,662 or 65% retracement, as part of wave-2 of "c".

Price action during the last hour of trading and into the close suggests that wave-2 of "c" is now complete and wave-3 of "c" appears to have begun, but without confirmation yet.

If our prediction is correct, we should see impulsive moves down going forward, with the previous resistance level possible target of this leg down.

As the trend unfolds, we will be able to define the target with more accuracy.