Worth a read and while Mr Klarman doesn't give a time frame (this is why technicals matter), his views are hugely respected and thus we should take note -...

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.