The S&P 500 earns a five-point upgrade this week to +20 (+2 Bullish) as the AI trade and technology leadership continue driving the market higher. Earnings season has been a major catalyst throughout the current expansion phase, helping fuel another strong week for the index as price continues breaking higher in an open-air environment above the prior high base.

The S&P 500 earns a five-point upgrade this week to +25 (Bullish) as the market transitions from development into expansion. Last week, the expectation was for the high base to resolve following consolidation at the highs. That is exactly what occurred. Price held structure, allowed the 9 EMA to catch up, and broke out. That sequence matters. Strong trends don’t reset through selling pressure, they reset through time, and that’s exactly what this market just did.

The S&P 500 maintains its current ranking this week, holding firm in a bullish condition as the market transitions out of last week’s extreme momentum phase and into pattern development. Coming into the week, the expectation was straightforward. After a historically deep overextended move, the market would need to develop a secondary pattern before continuation. That’s exactly what occurred. Instead of pulling back aggressively, price consolidated at the top end of the trend, forming a clean high base and confirming strength rather than weakness.

The S&P 500 is upgraded 10 points this week to +30, shifting the market into a Slightly Bullish condition as momentum accelerated out of the recovery phase and quickly transitioned into a breakout and now into overextension. Price has moved decisively through prior resistance and established new all-time highs, with the speed of the move becoming the defining characteristic of the current condition.

The S&P 500 shifts into a slightly bullish condition this week, upgraded 10 points to +40, marking the first time during the entire correction cycle that the market has reclaimed that designation after weeks of persistent lower highs and lower lows. The upgrade reflects a meaningful change in structure following the breakout earlier in the week, where price established a new resistance zone for the first time in this environment. The move was accelerated by a catalyst event tied to the U.S.–Iran ceasefire, but the more important development was how price behaved after the breakout, holding gains and maintaining control into the close.

The S&P 500 has transitioned into a more balanced technical condition this week, earning an upgrade to a neutral stance. After multiple weeks defined by expanding downside momentum and a clear violation of the 6,500 support level, the market finally showed a meaningful shift in behavior. The broader trend remains corrective, but this week broke several of the short-term patterns that had consistently defined the selloff and, for the first time, showed bulls willing to battle.