Here is a multi year downtrend of the $NDXE/$NDX (log chart). It flipped the 50 week MA as support and closed last week above the downtrend line. This could suggest a relief rally in tech or a slowdown in FATMANG (FB, AAPL, TSLA, MSFT, AMZN, NVDA, GOOG). I favor the former.
Caution in all asset classes remains. How much risk are you taking on for how much reward you are expecting to acquire?
Keep asking yourself that question.