I thought yesterday's dump was a major local top but bulls are showing some resilience. I guess this might just stay sideways for a couple days and keep pushing higher.
I'm still skeptical about these bubble projections though. I think the next year will look more like 2015-2016 than 2017. Too early....
I expected $9k end of year going by what happened in 2015, and we almost hit that in May. We are probably looking at a much more gradual incline over the next 2 years rather than relatively flat for a couple years then vertical like 2017. If that's the case, the top may not be as high but the following crash won't be nearly as severe. This is what needs to happen before mainstream gets in anyway, these monster rallies followed by monster dumps are a huge turnoff for most people.