Lot of games left to play, don't think La Liga is out of reach. RM still have to play Athletic away, Barca, Atletico, Sevilla, etc. It's fortunate for them that most of these matches are at the Bernabeu, but there's no way Madrid go without dropping some points sometime during the remaining matches (*knocks on wood*).
Bad showing today though, the team needs to rest well and train diligently. Nothing but full professionalism to recover from this stumble.