Commentary: It is possible to count 5 waves down from 117.93 so a larger correction is due unless the decline is extending. Under the extension scenario, 114.59 is the 100% of 113.24-114.32/113.51 and a rally to there would potentially complete a correction.
This level is also just above the gap open from this weekend. If a larger correction is playing out, then look for resistance at 115.02 (38.2% of 117.93-113.24).
Strategy: Flat