Nasdaq: Correction is just beginning

I cover mostly crypto but it is important to take a look at what stocks are doing in the current environment. Tech stocks finished a set of intermediary impulsive waves in the shape of a leading diagonal (shown in blue)... This leading diagonal went from $165 to $382 and is the first wave of this new bull cycle. By the way, I identified the previous cycle correction with cycle I and cycle II that ended in March 2020 just for your information. Since that peak, we just started a set of intermediary corrective waves. We are just in intermediary wave A right now. It is difficult to tell how far it will correct which is why I put two possible scenarios: a simple flat 3-3-5 shown (shown in magenta) or a simple zig-zag 5-3-5 (shown in purple).