Quite remarkable what happened here on Friday, the 1.618 Fib level at $220 was broken and on the immediate retest of this level, the price did not hold and rejected hard, along with the Semi Sector....this 1.618 Fib is an incredibly important and reliable target level and one that I respect enormously.
I am expecting a pull back for Wave 4 shortly now and the 0.38 Fib level is at $175, if we consider that Wave 3 completed at $227.
Wave 4 will need to pull back in 3 waves down.