S&P 500
BearishArchived analysis from Sep 28, 2026, 8:17 PM
Key insight
7,682 holds intraday but Sep month-end at 7,743 is now resistance; break below 50-day MA ~7,620 opens path to 7,500 round number. Nvidia $150bn buyback limits tech damage.
Trump's Strait of Hormuz rejection sends oil toward $100+ and 10-yr yields to 5.26% — dual headwinds crack S&P 500 below Sep 26 close at 7,743.
Main risk
10-yr Treasury Yield at 5.26%
Yields hit multi-decade highs above 5% across 5yr+ maturities; equity valuation compression accelerates if 5.35% 2024 peak is retested.
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