We still didn't bounce from a proper support on QQQ I think the next impulse waves with momentum will be negative.
We haven't entered a correction phase yet! so hold your horses!
This is just an wave correction (a warning shot!), the Real fun begins when we have complete negative impulse waves 12345, if the first wave is , we are seriously looking at 120 or lesser levels. If there is a collapse, we are looking at a crash. Don't be surprised if there is a crash, its long over-due.
AMZN will be the best ATM machine; its way overvalued and it doesn't have a proper support above 950. Another stock to consider is NVDA , because NVDA doesn't have a proper support.
I think the correction will last at least 4 months for proper consolidation. Now, it doesn't mean we will have a bear market, it just mean's its going to take at least a couple of month's to break this high. In another word, we are just constructing a base for a healthy market to sustain and hold.
About the , I think it's going to make an anti-butterfly and wave downwards, I am not good with harmonics, but it's a good reference when we are not sure about the support or the resistance ATM. Something to go with right now...
Good Luck, and don't get tempted to buy cheap shares, sell the high and enjoy!