The S&P 500 (SPX) has fallen off the edge we described it was on, entering into 2022’s third Lévy flight event. What’s happening with stock prices now is the “short and brutal path to sobriety” alternative we explained would come about if “investors have a reason to refocus a significant portion of their attention on 2022-Q2” in setting current day stock prices in our discussion demystifying the recent moves of the S&P 500.