I don't know if hit the top and we are on the way down, or this is just a garden variety correction, and we will see new highs in a month or two.
I do know we are nowhere near the bottom, because near the bottom, almost no one is joking, and a lot of people are freaking out.
If the market tanks 50% I'll still be posting jokingly on this thread... because one thing we'll know for sure then... the Top won't be in!
The whole point of being Mustachian is to build up resilience so that the downturns really don't matter. If you're saving 20 to 50 percent of your income and have your expenses well under control, you are in FAR better position than almost the entire rest of the world. So for us, downturns are not things to be feared. I look at them as shopping opportunities. More chances to buy more stocks at a discount.
For non-Mustachians, a downturn in the market and potential job loss is seriously bad news because they are living paycheck to paycheck (or close to it). But for the people here? Meh, downturns are things that non-Mustachian's freak out about.