so from this principle most likely we're now entering in wave C which could lead us to lower levels.
a normal wave c in a correction could travel upto 100-127.2% of wave A which in this case goes upto 125 and 100 dollar level respectively and wave goes in the formation of 5 sub waves.
in above chart you can see that wave 1 has already completed and now wave 2 is in the process which could go upto 198 in short term, meanwhile wave 2 could also go upto 100% of wave 1 but not more than that, which in this situation is 215 level, so its better to keep our stop loss slightly above this, i'll recommend from 217-220 is a good level to place your stops.
if wave 2 rejects from fib618 around 198-200 which is most likely than wave 3 could go upto 161.8% of wave 1, around 130-120 level, meanwhile we could also see a formation around 142 level where we made the previous low or the bottom of wave 1, but most likely bulls will fail here coz wave 3 will be the most impulsive, than wave 4 could go upto 38.2% of wave 3, around 155-160 level and finally we could see the wave 5 driving prices lower around 100-95 dollar level.
but before you jump to short apple stocks, let me clear that this complete analysis is based on theory and there's no guarantee for this price action, apple is the biggest player and it needs huge huge fud and massive selling for this kind of price action which could wipe out billions of dollar from the market.
but hey there's also a good news for bears and that's massive fud ahead,
Bloomberg: "Apple Must Face iPhone App Antitrust Suit, Supreme Court Rules"
devil's laugh ;)