Stocks: Pursued by a bear

CNN Money reports:

Investors returning from a long holiday weekend better come back well rested, as the weeks ahead bring something of a battle.

"The market is near a critical point where if it loses just a few more percentage points, it's really going to collapse," said Stephen Carl, head equity trader at Williams Capital Group.

The S&P 500 and Nasdaq composite are within shouting distance of a bear market - a drop of 20% off the highs. The Dow is slightly less bruised and battered - it's down just 13.5% from the April highs versus a drop of 16% for the S&P 500 and 17% for the Nasdaq.

Just a reminder, the last closing price for the S&P 500 under George Bush was 850.12 on January 16,2009.