S&P 500

Key insight

7,715 trades at all-time-high territory — a clean hold above 7,700 round number opens 7,900 next; failure to push through by end of week risks a fade back to 7,550 gap support.

7,715 holds above the 200-day MA near 6,800 and the June breakout at 7,200; momentum stays constructive while Gold at $4,634 and Nasdaq +0.9% confirm broad risk appetite.

Main risk

Treasury yield spike / Fed hawkish pivot

Any upside surprise in PCE or jobs data could lift 10-yr yields above 4.8%, pressuring stretched multiples at 22x forward EPS near current ATH.