#S&P500Breaks7800ForFirstTime S&P 500 Above 7,800: Record High, Strong Earnings, But the Next Test Is Different
The S&P 500 has crossed a level that looked distant only a short time ago.
On August 13, the index pushed above 7,800 for the first time and reached an intraday record around 7,816.7. It later closed at 7,798.99, just below the psychological 7,800 mark. By August 17, however, the index had pulled back to 7,745.06 as rising oil prices and weaker economic data introduced a new layer of uncertainty.
That sequence is important.
Breaking 7,800 was a major momentum event, but holding the