Reason why I think SPY still can go down to $362

Take a very close look at the monthly timeframe
As we all know as professional traders... the BIGGER time frames always beat the smaller time frames knowing this; we can take a look at the most recent candle on spy which comes to show us a bearish engulfing candle which typically indicates a lower move down. here is an example of what the set up looks like https://cdn-amiji.nitrocdn.com/IEZIUgrNRbYQggDlmHBLkLYuABZyJyOL/assets/static/optimized/rev-b4327ab/wp-content/uploads/technical-analysis/BearishEngulfChartVZ.gif

On the shorter time frames we might see a bit of green but over all LONG positions will be short for the coming weeks