The S&P 500 recorded its worst daily performance of 2026, dropping over 2.5% and ending a four-month streak without a 2% daily loss. Despite this pullback occurring near all-time highs, the index recovered in the second half of the week to secure a 0.6% weekly gain. Technical analysis indicates a major rally phase concluded at the 7,620 level, with analysts suggesting a potential correction could target the 6,800 range.
Analysts identify a potential bearish 'death cross' on the S&P 500 4-hour chart, signaling possible downward momentum following a recent 2.5% market slump.
Read the full storyTechnical analysis indicates the S&P 500 rally peaked at 7,620, potentially triggering a secondary downward move toward the 6,800 range.
The S&P 500 reversed early-week losses, including its worst daily drop of 2026, to secure a 0.6% weekly gain as buyers returned to the market.
The U.S. index snapped a four-and-a-half-month streak of low volatility, marking its sharpest single-day reversal of the year.