Fibonacci time projection

Time cycle is often forgotten when analysing markets but it may be more important than price levels in the current environment.
So far, there is still a risk of seeing renewed weakness over the next few weeks, which would probably provide trading opportunities.
It remains difficult to assess the downside risk of such a move and especially whether the January lows will be broken or not.
According to the weekly chart below showing the SP500 and Fibonacci time projections an important low could occur during the end of April.