S&P 500 Weekly Analysis: 7500 Breakout & Target 7800

Week 28, 2026 | +0.7% | -0.8% below all time high

• The S&P 500 staged a breakout above the 7500 point zone on Friday before the US market close.
• The 7500 level continues to serve as the structural line in the sand.
• The S&P 500 remains within an active cycle of weakness from June 23 to July 28 where an expected 2% to 5% correction is shown by the green box on the chart.
• This expected correction target was fully met with the successful retest of 7300 at the end of June.

Daily Technicals
Levels marked in red on the chart.
The 7800 level now becomes the primary target to the upside.

• Bearish at 7500.
• Bullish at 7300.

Short Term Risk

• No signal this week.
• The buy score increased this week but has not triggered a buy signal.

Bottom: Buy score in green, sell score in red, S&P 500 in black.
Top right: Zoomed in version. Top left: Buy and sell signals as vertical lines.
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Long Term Risk
Very Low Risk | Low Risk | Elevated Risk | High Risk | Very High Risk

• No change.
• Buy and sell score decreased and leave room for new signals.

Top: Indicator with internal signals determining risk levels.
Bottom: S&P 500 in black with risk regimes ranging from very low to very high (white, grey, orange and red shaded areas).

Seasonality

• Very strong July.
• Seasonality suggests a very strong Q3 start, followed by weakness in August and September.

Dashboard
All information summarized in our dashboard: