I think this market will be selective crash.

Mortgage lenders will get crashed as many already have done.
financials, REIT get semi-crash
tech/pharma/oil get dragged down for a bit and leaders will stay well.

things will be back to value I guess.

Because the performance will be highly segmented, index will resultantly perform bad relative to a well chosen group of sectors. Laziness and generalization deserve less return which is fair.