I have relabeled wave 1 at 230.79. It makes more sense looking at the divergence between sub waves 3 and 5. I believe wave 2 may retrace 50% of 1. You'll know when wave 3 is underway once 230.79 is taken out.
Nice Eliot Analysis. Yet - it might fail due to the 2y bear trend line running at $235 like somebody hitting his head against a wall over and over again until retreating.