New bearish trend while respecting the fib?

We might not have enough data to support a new trend line, but we have overall weakness in the economy. I think CPI is going to be about the same or slight beat, best case scenario.

I think the SPY will bounce off the fib come down to this $398/399 level, and either rug bull or begin a new bullish trend. I think we are looking at a bearish trend until $377 where we enter a strong buy zone.

Trade active:

Trying to be patient to see how much more this will fall. I expect a decent bounce coming here around 399-398

Trade closed: stop reached:

sold at $397