The trend is down

The short-term upwards retracement appears to have completed in 3 days (prediction was for 1-4 days), approaching 52% of the 1,648-1,623 leg down.

The immediate target for this down leg is again 1,600 on $SPX.

After that, we will have a shallow bounce up, followed by another dip: this last dip may reach as far as 1,565-1,575, but it is too early to call with precision.