Here's the big question:
Are we pricing in Fed hikes to 3.5%, a growth slowdown and then a return to the 2019-normal?
Or are we pricing in a shift to a high-inflation regime where Fed rates will stay consistently high?
We won't be getting an answer any time soon but it's now widely accepted that we were in a tech bubble that's burst. Given that tech companies are still trading at high multiples, we're not at the bottom yet. Though as we continue to push into oversold levels, the odds of a rebound higher rise.
