The Nasdaq 100 ETF QQQ is much worse off. Unlike the S&P which is only 3.5% off its highs, QQQ is off by over 7%. That's approaching the 10% normally used for corrections. Tech has been incredibly beaten up lately and is within a hair's breadth of hitting its 200 DMA of 64.77. I would expect that point to hold for at least a short time. Depending on earnings news, it could drop down to its old support levels in the 61-64 range. Regardless, if you're a very long term buyer, now's not a bad time to start cost averaging into QQQ at least a little bit.