SPX Approaching All-Time High: Breaking Above 6740, Targeting 6780–6820
$S&P 500(.SPX)$ closed at 6,735.35 (10/21, +0.00%, nearly flat), approaching its all-time high of 6764.58 ("slightly below record" on the day).
Price Drivers
Industrial and broad-cap stocks are supported by earnings, with growth stocks diverging;
Macroeconomically, interest rate repricing and expectations of a soft landing are alternatingly influencing risk appetite.
Technical Analysis (Volume/Pattern + MACD + RSI)
The index is advancing along the EMA20; the MACD is negative but trending upwards, approaching a golden cross; the RSI is moderately strong, exhibiting a "trend + minor pullback" pattern over the past two weeks.
Forecast for the Next Week
If it breaks above ~6,740, the target is 6,780–6,820; if it pulls back, watch for further action. 6,690/6,640.
Valuation Reference
Overall TTM P/E ratio is ~28–31x, above the long-term average but still within acceptable range, with earnings revisions and real interest rates as key anchors.
⚠️ Risks
Earnings season volatility, interest rate and policy uncertainty.
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