The theory would now be to expect an correction to the .61 or .7 fib retracements. The .78 aligns with the 70 week at around $300, so that could be a strong target.
I'm not really sure if there is a way to predict the correction duration from this chart? I'd be happy for someone to enlighten me.
Long term this would be only wave 1 of a long term weekly super cycle. Good news if you are in for the long haul. This wave took over 2 years (116 weeks) to play out. So safe to assume the next wave up would take around the same amount of time.
This is merely a commentary involving theory and in no way trading advice.
time to start another impulse wave (Wave 3)