The index is at the crossroads of the short-term upwards moving trendline and the horizontal support line at around 2742 area. If this holds, then we could see a nice bounce, where we could aim for the 2790 or even 2800 levels again. A break above those could lead S&P 500 towards its all-time highs at around 2875 zone.
If the break of the previously mentioned support lines occur, then we could expect some further declines towards the 2700 level. If the index reaches that area, then we will re-evaluate it again.