S&P 500

Key insight

7,711 sits in no-man's-land: 50-day MA at 7,650 is the bull/bear line; a close below it opens 7,480 (200-day MA). Nasdaq underperformance (-1.3% vs SPX -0.5%) warns of tech-led selling risk.

7,711 holds above the 50-day MA (~7,650) but Nasdaq -1.3% flags tech rotation pressure; no directional conviction until 7,750 resistance clears or 7,650 breaks.

Main risk

Nasdaq tech selloff spilling into SPX

Nasdaq -1.3% vs SPX -0.5% today — widening divergence signals rotation out of mega-cap tech; break of 7,650 (50-day MA) confirms.