SPX500 Hits New Highs but Fed Caution Limits MomentumUS SPX 500OANDA:SPX500USDSroshMayiSPX500 Overview Market Context: The Fed's reluctance to commit to a rate cut in the upcoming September meeting has forced markets to reassess their outlook. This hesitation pushed Treasury yields and the US dollar higher in late trading, weighing on equities. As it stands, the probability of a rate cut appears to be pushed further out on the timeline, introducing short-term headwinds for risk assets. Technical Outlook: SPX500 printed a new all-time high and maintains bullish momentum after stabilizing above the previous ATH at 6427. As long as the price holds above this level, the bullish continuation toward 6454 remains likely, with a further extension to 6480 possible. A bearish correction would only be confirmed by a break below 6415. Resistance Levels: 6454, 6480 Support Levels: 6415, 6389