Dec. 26, 2025 5:43 PM ETSPDR® S&P 500® ETF (SPY)SP500, NDX, QQQ, DJI, VOO, IWM, DIA, IVVHawkinvest16.2K FollowersCommentsThe S&P 500 (SPY) is riding a multi-year rally, but rising risks warrant caution heading into 2026.Key economic indicators—ISM manufacturing, household debt, and surging delinquencies — signal mounting systemic vulnerabilities.Market gains are highly concentrated in a handful of tech stocks, with record-low cash levels and high margin debt amplifying downside risk.Despite potential upside from tax policy, deregulation, and AI, I advocate raising cash as valuations appear priced for perfection.mustafaU/iStock via Getty ImagesWe are heading into 2026 soon and it looks like the stock market is in the midst of the typical Santa Claus Rally. It's been a strong year for the stock market and this is the third year in a rowThis article was written byHawkinvest16.2K FollowersLong-time stock market investor focused on strategic buying opportunities with dividend and value stocks. This investment strategy has resulted in a near 5 star rating on Tipranks.com and over 9,000 followers on Seeking Alpha. Follow me on Twitter for my latest trading ideas: @Hawkinvest1Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments