The S&P 500 maintains a cautiously bullish stance despite higher yields, with equities rallying as risk-on sentiment returns. The US yield curve remains steep, with long-end yields rising faster than the front end—signaling growth optimism rather than policy tightening stress. Markets are increasingly focused on President Trump’s upcoming announcement of the next Fed Chair, with expectations that a more dovish appointment could resolve the current FOMC rate deadlock. Longer-term, the case for duration is rebuilding as rates are expected to drift lower through 2026.
Key Levels: Support at 6,785.1 | Resistance at 6,987.0
Investor Takeaway: RSI at 65 remains above its MA with flat MACD buying pressure; equities remain supported by policy expectations and curve steepening, though upside momentum is controlled rather than explosive.
