S+P 500 priced to open market territory (Part 1)

As you all surely know by now, the Nasdaq 100 fell into a Bear market on Friday, in a move that had been flagged in terms of its potential a few days beforehand. That slide helped to force the S+P 500 ever closer to replicating the move (not that it needed much of an excuse). As previously noted, the entry point for the S+P 500 to follow suit is a drop of 20% from the 2025 record high, at 6,147.43. That arrives at 4,917.94 for the S+P to do likewise. The low seen on Friday was set at 5,069.90 and the index later closed not much above that low, at 5,074.08, with a massive loss of 322 points on the day. Look, there is guarantee the index will fall into a bear market, but at the same time, it would be a bigger surprise right now if it did not. Please take a look at daily bar chart of the price action in recent days and you will see it has left open two yawning gaps and right now it is going to take something truly significant to see those closed before it might fall further today. Look there is too much narrative required here for just one update, so please read on. Part 2 to follow immediately