We are approaching the target in the ABC sequence here from the highs at 187.250. The 76.4% retrace of the previous advance is also supporting underneath at 148.834.
To put simply, it is worth considering that the market has fallen enough and I would recommend those on the sell-side to take some off the table with a cautious approach. We are likely to get an inflection point here and smart money is all over this if we see a base.
Do not expect much below 187.250 .. steel support at 148.834; wary of a base.