I believe this is the correct count for the decline. You have an expanded flat that retraced all of wave 1/A nearly a perfect 61.8%.
Yesterday, I posted these options that I would be looking for:
1. Market hits 1325-1330 and pulls back. If the next leg down holds above 1294 and then bounces up and takes out 1330, most likely that leg up will target at least 1340, which would bring the flat into play.
2. Market hits 1325-1330 and then trades between 1294- 1330 over the next several days, a triangle may be working out.
3. Market hits 1325-1330 and pulls back taking out 1294, then 1280 is most likely where it is headed.
Anyway, the 60 min chart above is something I'll be watching over the next day or two. 1332.09 and 1294.26 are the key levels to watch along with the characteristics of the wave structure.