The July 22nd time cycle was a major cycle, and that resulted in a high, and then reversal with a sharp selloff.
The market may pause soon, but bounces may only be moderate, and another sharp decline appears likely. As far as timing, a bottom target near 1263 may be approached in as little as a few days time.
August 10th +/- 1 is also important, and a significant selloff into that date is anticipated. It is possible that is the bottoming date if things develop a little slower.