The stock market has been in a five-week losing streak, taking the S & P 500 to a 9% decline from its peak two months ago. Despite this, Mike Santoli argues that investors should be mindful of "upside risk" in the event the Iran conflict and energy shock are contained by the White House. He also notes that even a quick 4% relief rally could not significantly impact the market. The market's decline resembles the path of the early-2025 Tariff Panic, which saw a significant overshoot last year and led to a six-month surge in the S&P 500. Despite these setbacks, Santoli remains hopeful about the future of the stock market. Valuations have also dropped, with some analysts suggesting that Wall Street has done a decent job justifying high valuations.