From EWTperspective, still in wave iv 
, a corrective wave retracing the wave iii, an impulse. Count valid till QQQ breaks below $283. Then alternative count would kick in, in wave 4.c, a corrective wave to wave 3, an impulse. Depicted below, you need a rudimentary knowledge of EWT to understand. If I have to elaborate, it means you have 0 knowledge of EWT.
http://www.forexhit.com/learn-forex/elliott-wave-principle.html
Due to potential complexity of the corrective waves it is best to confirm their end by using other technical analysis tools.
Quite often, I foolishly try to predict the end 
. That is what I am doing now, using fib numbers and trend lines 
