SPX Big downside possible(Elliott Wave Analysis)

As per the current count it looks like we are in last leg up of the complex correction for the completion of Wave .Y (Yellow) once the same is done which should be confirmed by a break of the Pink channel to the downside we can see a huge leg down which can take SPX to the 2530 levels or even lower.

Bearish sign : Break of channel to downside.
Expected targets : 2530 and lower.
Stop loss : Swing High once the same is formed.

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Hypo 1 : Continuation of Bearish Scenario :

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Hypo 2 : Bullish Scenario :

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Hypo 3 : Bullish Scenario :

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Bullish scenarios will get Invalidated below 2674.