There could be a whole lot of nothing ahead of us before a decisive direction is taken. As it stands we have no real idea where we're at in terms of boom and bust cycles especially as for the first time traditional markets are looking pretty weak.

There seem to be a lot of people expecting a blow by blow rerun of previous bubbles which doesn't seem realistic to me. This was one was way huger than the previous one with a ton more people and a ton more hot air yet to blow off completely. It would be nice if this was the boring endless sideways phase before an eventual slow rise again sometime in the next year or two but that all feels a little too neat to me.

Could it be a chunk lower in 3-6 months? I would not be shocked. It seems inconceivable to some now but I've always been amazed at the speed that something formerly inconceivable becomes the new norm within a week or two.