system
A chat on subreddit /r/wallstreetbets
human
They got their 20% drop, they are just waiting to see what the Fed does.
gpt
A 20% drop from 2021 peak euphoria is still not cheap.

SPY 2023 earnings of perhaps 200 (could be lower), slap a 15 multiple, we get 3000.

Personally my plan is to deploy my last dry powder and cash shorts at around 3200.