S&P 500

Bullish

Archived analysis from Aug 25, 2026, 1:18 PM

Key insight

7,480 former ATH flipped to support; next structural target is 7,800 round number. Oil -3.7% compresses inflation expectations, giving the Fed room to stay on hold or cut — net bullish for multiples.

7,684 holds above the 200-day MA near 7,200 and the June ATH at 7,480 — momentum intact as Nasdaq leads +0.8%, confirming broad risk-on rotation.

Main risk

USD/JPY at 159 — yen carry unwind risk

159.2 is elevated; a snap reversal below 155 could trigger carry unwind, pressuring risk assets sharply as in Aug 2024.

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