S&P 500 Holds Above 6500 Ahead of U.S. Tech Earnings Reports

Next week, market focus will shift to quarterly earnings from major U.S. technology companies. For now, investor attention remains on the financial sector’s reports. US Bancorp Group posted revenue of $7.33 billion, up from $6.86 billion a year earlier, with earnings per share rising to $1.22 from $1.03. Insurance giant Travelers Companies Inc. also exceeded expectations, reporting revenue growth to $12.47 billion from $11.9 billion and earnings of $8.14 per share versus $5.24 previously.

In the bond market, yields continue to decline: the 10-year Treasury yield fell from 4.045% last week to 3.945%, the 20-year from 4.616% to 4.526%, and the 30-year from 4.643% to 4.559%.

Top gainers within the index include JB Hunt Transport Services Inc. (+22.14%), Micron Technology Inc. (+5.52%), ON Semiconductor Corp. (+5.18%), and Newmont Goldcorp Corp. (+5.01%).

Among the laggards were Kenvue Inc. (−13.22%), F5 Networks Inc. (−10.70%), and Hewlett Packard Enterprise Co. (−10.14%).

Support and Resistance Levels

The index remains in a corrective phase within an overall upward trend on the daily chart, showing a minor pullback inside the 6900.0–6500.0 channel.

Technical indicators maintain a slightly weakened buy signal amid the local correction: fast EMAs on the Alligator indicator stay above the signal line, while the AO histogram in the buy zone forms shorter corrective bars.

Support levels: 6490.0, 6220.0.
Resistance levels: 6700.0, 6960.0.

Trading Scenarios and S&P 500 Outlook

If the price consolidates above resistance at 6700.0, buy positions are favored with a target of 6960.0 and a stop-loss at 6620.0. Implementation period: 7 days or longer.

If the price breaks below 6490.0, sell positions become relevant with a target of 6220.0 and a stop-loss at 6580.0.