The S&P 500 holds a cautiously bullish bias as US yields remain elevated but macro tensions cool. The US–China summit in Busan produced a limited trade truce:
• US to slightly reduce tariffs on Chinese imports
• China to resume US soybean purchases, delay rare earth export restrictions, and expand anti-fentanyl cooperation
• Stability prioritized ahead of 2026 global election cycle
While geopolitical pressure eases, technical momentum has weakened sharply, hinting near-term consolidation risk.
Key Levels: Support 6,788.8 │ Resistance 6,939.7
Technical Read: RSI ~22 deeply oversold; MACD showing emerging selling pressure
Investor Takeaway: Macro relief is supportive — but weak momentum suggests patience on breakouts.