This is what I see as a possible scenario. Moving averages and candle patterns tell the story. Gold seems to confirm this too.
VIX has been creeping up as well.
I do not trade the indices. If you do, this is perhaps a safe short on SPX.
Green box highlights the same pattern. Letters correspond to similar price action as well and potential outcome. Green line indicates the previous target reached during that event. Blue line indicates potential target from what I perceive will be the next move down on SPX.