S&P 500

Key insight

7,661 consolidates just below the round 7,700 barrier — a clean weekly close above flips momentum to the 7,900 Fibonacci extension target. Europe red and gold softer signal mild risk-off globally, but US indices hold firm.

7,661 holds above the 200-day MA (~7,200) and the Q2 2026 breakout base near 7,400, confirming the uptrend structure intact heading into Q4.

Main risk

Treasury Yield Spike / Fed Hawkish Pivot

10-year yields re-accelerating above 5% would pressure equity multiples hard, targeting a pullback toward the 50-day MA near 7,400.