$SPY Elliott Wave bearish cycle: Bottom Prediction

Look for $SPY to unravel over the next few weeks with a $VIX spike that sends it down to $291. My analysis is that ~290 is the completion of this bearish cycle. It also lines up with support established in 2018 and 2019. Down there is a long term buy, but it really could go as low as 155 in an extreme bear case (would need further exogenous shocks in the macroeconomy).

All time high = $480
February Low = $410
(A) WAVE: 480/410 = 17% drop

March high = $462
June low = $362
(B) WAVE: 462/362= 28% drop

28 / 17 = 1.65
28 (1.65) = (C) WAVE: ~45% estimated 3rd wave down from August highs ($432), which sends SPY to the 290s