The S&P 500 maintains a cautiously bullish outlook as yields dropped sharply on growing rate cut expectations. Markets sold off yesterday with the S&P 500 down 0.63%, following alarming remarks by Jamie Dimon after bankruptcies of First Brands and Tricolor Holdings—both financed through the $2.1T private credit market. Dimon warned this could mirror early 2008-type fragility, suggesting more failures could follow if the economy slows. Regional banks remain under pressure from expensive deposits, legacy cheap loan books, and deposit flight to money markets. This combination is increasing pressure on the Fed to cut rates.
Key Levels: Support at 6,546.2 | Resistance at 6,745.1
Investor Takeaway: RSI at 46 below MA line trending down with flat MACD selling pressures; growing credit stress supports policy easing narrative despite equity softness.