How likely a correction is???

1-Dark Cloud:
https://www.tradingview.com/x/KXQjGTiU/

2- Volume: highest volume in the past 3 months.
https://www.tradingview.com/x/MZaEbC1R/

Mean reversion
A summary chart: more than 6.5 ATR, 10.5%, and 2 Stdev above moving average without a meaningful correction in the past 3 months!
https://www.tradingview.com/x/hYf3d3Vq/

3- 3 Standard deviation Rule:
Daily:
https://www.tradingview.com/x/rxKHGxd5/

Weekly:



4-Percentage of deviation:

https://www.tradingview.com/x/VRPczFfr/

6 ATR deviation:
https://www.tradingview.com/x/jzKYXwzD/

Bears Arguments:
1- Market has already priced in everything but a rate hike after the pause in June!
2- Nasdaq-100 is expected to see revenue growth of 7.5% in 2023, which would be the slowest pace of growth since 2015. The report also predicts that 25% of the companies in the index will see revenue declines this year.
3- increased interest rates and decreased money supply can negatively impact tech stocks:

Higher cost of capital. When interest rates rise, it becomes more expensive for companies to borrow money. This can make it more difficult for tech companies to finance their growth, which can lead to lower earnings and stock prices.
Decreased liquidity. When the money supply decreases, it can lead to a decrease in liquidity in the market. This means that there is less money available to buy and sell stocks, which can make it more difficult for investors to trade tech stocks.
Increased risk. When interest rates rise, it can increase the risk of default for companies with high debt levels. This can make investors more cautious about investing in tech stocks, which can lead to lower stock prices.
Of course, not all tech stocks will be negatively impacted by increased interest rates and decreased money supply. Some tech stocks, such as those that are profitable and have strong balance sheets, may be able to weather the storm. However, tech stocks that are more reliant on debt or that are in more speculative sectors are more likely to be impacted negatively.

4-This could be considered as wave B..!

https://www.tradingview.com/x/bhQqo0Hh/