We need to watch the indicators closely for a rollover of the indices. Breadth deterioration is in and the S&P500 just did a twin peak. There will not be a plunge in the indices unless something huge happens, but we are probably seeing the last gasp before the toilet flush. I'm not a technical analyst, more of a macro overview that I follow but we will probably see this flush take place across a period of a few weeks/months, as the market makes its way down. There will of course be short rallies here and there as investors buy into their favourite stocks and hedge funds take positions. But generally, the trend will be down, given the receding liquidity. Will growth stocks be hit? We have recently found a floor of sorts. Well, if the indices go down, they usually will create a drag effect across all stocks. 

If the S&P 500 goes down by 20% to arrive at about 4000 points, we should expect that growth stocks take another 10%-15% haircut. Don't think $TSLA is immune given its currently lofty valuations. Yes, analysts have given their new targets, but those are meant for a time in the future. Not tomorrow, certainly not by Q4 2022 even. So yes, this will get shot too. Some are hoping for a post-Elon-selling pop. While it can, it will not last long. So up one day for a nice hurrah and down it goes again, with lower lows.

The drag will also pull down defensive stocks,  cyclical, value. No exceptions as with previous tapers.