S&P 500 Surpasses 7,000 Level as Nasdaq Hits New Record High

The market's upward momentum extended as the S&P 500 maintained its historic position above the 7,000 threshold, with the Nasdaq finishing its 13th consecutive day of gains. However, new technical indicators are signaling caution, as the gold-platinum ratio market-timing indicator suggests that a correction in the stock market is now overdue. Nomura strategist Charlie McElligott noted that the market chase remains intact, while Liz Ann Sonders emphasized the importance of broader participation for long-term sustainability. Investors are now pivoting their focus toward upcoming earnings from Tesla and Intel to gauge AI-driven capital expenditure. Meanwhile, WTI Crude continues to hold above $90 as risk appetite remains elevated despite emerging technical warnings of a potential pullback.