Seems SPY buyers have stepped in already and the bonce looks like it is underway. The re-tracement target is around 292 which coincides with the 50dma, 50%fib, gap fill and previous top in 2018. Based on correction fractals this would bring the next leg down into 272 which is the price volume profile pivot since 2018 and SPY had 2 strong reactions off in 2019 as well.