Checking the Monthly DPO chart of NASDAQ:NDX, it is important to be prepared for the risk of a correction soon after earnings season ends OR as the final week or so of reports come in. Often, the weakest reports are toward the end as there are aging technologies among these.
Corrections are necessary for a long-term uptrend to sustain.
Notice that there is more room to move up to the previous cycle peak of 2021. This new cycle peak can go higher as corporations continue to increase their revenues and earnings this year.
Also note that the extreme angle of ascent of the trend in 1998-2000 is far more severe than what has formed so far in this new bull market.