Wave (4) in the SPX may be taking the form of a double zig-zag with the X wave currently underway. After the X wave is complete a large decline in the Y wave should commence. Note 4th waves are often very complex and there are other alternatives to this idea which will only become apparent as the wave develops. Good Luck
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It is possible that wave (4) is tracing out a triangle BUT the decline would be very small and less than 0.236 the 3rd wave. Hence I think the double zig-zag is more likely as the decline would reach at least 2374 which is the 0.236 point of wave 3.