The relentless trend from the Feb 2016 could be close to a pause on some tech markets. Particularly the NDX and COMPQ. Both markets can suggest the trend is close to ending either wave  or wave  from the Feb 2016 lows. Personally I think the better idea is to suggest its close to ending wave . Although I can see the merits of the other idea when I look at a weekly chart, it can clearly be counted as a 9 swing move from the Feb 2016 lows.
If tech stocks are about to decline, then I think its close to a reversal. If you own some of the momentum tech stocks you may want to tighten up those stops.
The alternative idea I am watching, is that its also possible to count it as the end to wave , so essentially its the end to the whole move from Feb 2016. However without any serous downside below 5800, I will give the bulls the benefit of doubt and suggest its close to ending wave  and setting up for a decline towards 6000 for wave . If the COMPQ declines as I suspect it will, then expect the SOX and NDX to follow.
The NDX is virtually the same as the COMPQ. Whilst I dont track the COMPQ much, I do track the NDX daily. So we have two wave counts that can make a solid case of a decline setting up. One idea suggests a move towards 6000, the other idea suggests a more significant decline below 6000.
The last time I felt this confident was in 2015 and we all saw the result of that setup https://www.wavepatterntraders.com/elliott-wave-analysis-of-compq/
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