Here's a proposed count:
The first target of a break would be its point of origin, the 2040 area SPX. The 200 DMA will be in this range into June FOMC, setting up a bounce back to test the wedge. A failure turns our attention back to support at 1820 (for the next bounce).
If the Bollinger Band theory holds out -- that we need to reach it on the daily and possibly the weekly SPX band, like we did in the 2000 and 2007 (year) tops -- then we have a very useful signal and guard against shorting this too early, while it is still stuck in this dangerous chop.
And the larger meltdown into the fall, of course, as we roll-over the old supports are all lost (desperate, doomed rallies).