S&P 500
BullishArchived analysis from Sep 3, 2026, 1:31 PM
Key insight
7,692 trades inside all-time-high territory — next resistance at 7,750 round number. Break above opens 8,000 measured by the Sep 2025–Mar 2026 base. Gold surge and JPY strength flag macro hedging alongside equity gains; watch for divergence.
7,692 holds above the 200-day MA near 7,200 and the Aug swing high at 7,650, confirming uptrend structure. Gold at $4,486 (+2.2%) and USD/JPY -1.9% signal risk-on rotation into equities.
Main risk
USD/JPY collapse — carry-trade unwind
USD/JPY -1.9% to 155.7 in a single session signals forced yen-carry unwind; historical precedent (Aug 2024) hit S&P 500 -8% in days.
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