Where are we now?
We are now in a 3 wave correction and depending on which of 3 scenario's described earlier we are in a 2 or B wave.
They can retrace almost all of wave 1 or A. B waves can even exceed the level of wave A.
I marked 2585 as the 78.6% fibonacci level. That is my initial target although we should realize that the price can hold at 2700 which coincides with the 61.8% fibonacci retrace, but I like to see confirmation from the MACD first. Once we have a bottom, a C or 3 wave should form and target there is 3300.
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