This tired and overstretched cycle is showing its age

The current cycle back to the last crash in 2008. Last year was clearly just a minor blip.

I'm now wondering if gravity could bring us to a cycle retracement of -0.618 - or the next level down, which would wipe out the whole crazy 13 year bubble that has not left the world any better off anyway. If the market were to properly reprice it would clearly be the latter

Currently leaning eaning on the side of caution, I've got my eye on us retracing to -0.618 for now, based on the RSI line you will see below that has set up the current trend since 2018.