Historically, so far this correction is very mild and short. The above chart shows where are right now.
Does this mean we have further to decline?
That is always the big question. I put very little emphasis on reversion to a mean, so what has happened in the past and where we are currently means very little to me.
We have to look to other analysis to make our determination whether this is the first leg of a declining market or a short term event.
Hopefully you’ve been listening to my videos to gauge where I am on this question