It depends. People can always say, "zoom out," but that only works if you plan to be long term invested. Really it's more of a, what is your investment horizon/window. If you were planning to reap what you sowed in the stock market right now, you'd maybe be screwed. But like myself, the money I put in (personal account), Im not looking to touch for at least 10 years. Although right now/near term, it's not clear if we will be going up anytime soon. We were already stalling for the better part of the last 6-7 months on growth. Now we are going down with potential macro events that may keep it going down or stall growth for a bit. But as I said, if you're putting in money today planning not to touch it in 10-20 years, don't sweat it. Until the recent events in the Middle East, my international ETF was out performing the S&P500 by quite a bit.

Also consider there was a period it took the NASDAQ something like 15 years to recover from a crash after ATH. If your 20 and don't plan to touch it till your 60, whatever. But if you were 55 and looking to capitalize on it at 65, well, zoom out doesn't mean much to you.