SPY
Let me explain why is everyone is talking about SPY going to $320-$310 levels.
From a pure technical point of view.We have hit $320 support levels three times.June 2020, Sep 2020 and Oct 2020. So this is a natural support level .
From an Elliott point of view we are in a WXY correction, more precisely in minor wave A of (Y). And the most common Fibonacci ratio for a WXY correction is equality, and that will occur at $312.