SPX Downside Projection

I've had this area mapped out for a while as a potential downside area that could get raided. Admittedly, I had kind of moved on and no longer expected it to happen, but left the red rectangle on my chart anyways.

Now it's looking much more feasible as a downside target. I'm not trading this short and I am in 100% cash right now, but I would like to see that area taken out and rejected before I start to buy individual stocks again.