If the chart is at all appropriate, we are at the back to mean phase from the last cycle! That looks pretty clear to me anyway.
That's because you're wearing sunglasses
![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
I've said it before and more than once, most people forget to actually read "anatomy of a bubble", especially ignoring the phases' descriptions: Smart Money - Institutional Investors, Public.
The chart is applicable when, and only when both the curve and the phases match.
So far, we're not even in "Institutional Investors".