Re todayOne must remember Newton’s 1st law. When things get rolling, sheer inertia will carry the train well beyond the equilibrium position.
If the market-maker were present today, -no reason to think him absent, he wouldn’t have much to do other than observing us in our ridiculous self-fulfillment mode; but if he really had to do something of consequence it would be to give the SP one final kick in the downward direction to drive it to a point where even the dumbest cluck would realize it had gone too far, (.86) which of course is the perfect place to begin the comeback.
No doubt we will see that playout as the day wears on.