As illustrated the nasdaq is about the complete the ABCDE pattern, it also broke a crucial support level which is also the .0618 fib level. EMA's also showing we're still in a downtrend and are not getting out anytime soon.
This will mostlikely take some time to develop and is good for the swingtraders among us.
Trend is key.
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I think level 0.786 of the fib ( TP1 ) will be taken easily and dump further, there is no support at that level so we're going to the 1 level of fibonacci, where there is support, see february 2020.