$RSP is the equal-weighted S&P 500.
It peaked around $160 about a year ago.
It’s currently around $140.
It had a low at $70 in March 2020, (which was not an especially deep bear market, as bear markets go, and not so long ago either).
It seems $RSP is quite a lot closer to the top of peak bull market bubble mania, than to the bottom of a mild recent bear market.
I suppose a realistic price for $RSP at the low of an average kind of bear market would now be $90-100. (RSP pays out a dividend, after all).
If so, we should see some drops ahead.