S&P 500
BullishArchived analysis from Aug 28, 2026, 1:19 PM
Key insight
7,738 consolidates at all-time highs — momentum slows but no distribution; a clean hold above 7,600 (50-day MA) keeps the bull structure valid and targets 8,000+.
7,738 holds above the 200-day MA near 7,200 and the 2025 breakout base at 6,100; trend is intact with index printing fresh all-time highs in 2026.
Main risk
USD/JPY at 159.6 — BoJ policy risk
159.6 tests 2024 intervention zone; BoJ surprise tightening could trigger sharp yen rally, unwinding carry trades that fund US equity longs.
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