Nasdaq - Panic Over and Time to Get Discounts?

With nearly 30% fall in NDX , similar slaughter of tech stocks that we observed in March 2020, so is panic sell off over and is it time to buy stocks with strong fundamentals?

Fundamental indicators:

• US Consumer Confidence - bounced from the low of March 2022 but still at the lowest levels since 2011
  
• US Consumer Credit- at the highest since 2011, a positive sign, however, this can also be accredited to sharp rise in costs, hence people are spending more and getting less in return
  
• US Industrial Production - also at its historic peak
  
• US Jobless Claims - dropped to pre-pandemic levels
  
• Nasdaq P/E - at 20.9x ratio, lower than in March 2020
  

Technical Analysis (Elliott Waves):

• The sharp drop in March 2020 has completed a Running Flat correction that lasted for more than a year and a half
  
• Since then there was initially an explosive growth which has started slowing down from September 2020 - this is a sign that there is not enough bull power to complete an Impulse and Ending Diagonal is developing instead with 3-3-3-3-3 structure
  
• It is likely that wave 3 formed by a zigzag peaked in November 2021 and now wave 4 is developing which has already intruded into the territory of wave 1 and is nearly 0.786 of wave 3 using Fibonacci retracement
  
• Given all the above it is likely that wave 4 will find support above $10680 price level of wave 2 and will start the final bull run in the shape of another zigzag
  

What do you think about the prospects of NDX and US market as a whole?

Please share your thoughts in the comments and like this idea if you would like to see more stocks analysed using Elliott Waves.

Thanks