S&P 500 / Downtrend: MAY-JUN 2020 - Break-out or New Lows?

We are getting very close to the 61.8 retracement level. This is the time to go short/puts, or if you are a V-Recovery type of trader, then buy more.
I think this key Fib-level is coming in right on time for earnings season. I think we are going to see a reversal of the current trend as early as 4/15/2020. This of course, will take some time to see new lows, as late as July.