Has the Nasdaq reached a bottom?

The Nasdaq is trading at values ​​similar to those of the fall of 2020, eroding all the gains accumulated during 2021.

It has fallen approximately 30% from the peak of November of last year, a fall that, when compared to that of February-March 2020, is practically of the same magnitude. Unlike that time, this time the price has still not touched the 200-day moving average, although it came very close to doing so. It seems as if a support was reached last Thursday May 12 to initiate a reversal that pushes prices higher.

During this century, the only times this index fell more than 30% were during the 2001 dot com bubble and the 2008 housing crisis, with falls of 80 and 50 percent, respectively. In other words, falls of this magnitude are only justified in the face of crises, bubbles or similar events. If another similar catalyst is not foreseen in the short to medium term, then I don't see why the price would continue to sink further. It may be a good opportunity to return to the technology sector now that many stocks are trading at pre-pandemic prices.