Continues to show remarkable resilienceS&P 500SPCFD:SPXhilsdentradingThe S&P 500 continues to show remarkable resilience. Alphabet's results confirmed that demand for cloud services and AI infrastructure remains exceptionally strong. That is positive for the broader technology sector. However, investors are beginning to ask an increasingly important question. How much spending is too much? The market welcomed the growth, but the higher capital expenditure guidance has reminded investors that AI leadership will come at a considerable cost. That explains why the market reaction has been positive for semiconductor suppliers while remaining more cautious towards some of the large platform companies. What I'm Watching Today's focus is on whether futures can build on the overnight optimism. I'll also be watching Treasury yields. If yields continue rising alongside oil, that could limit the upside for high-growth technology stocks despite encouraging earnings. Trading Plan My preferred approach remains buying pullbacks rather than chasing breakouts. The trend remains positive, but I want confirmation from price before entering. If buyers continue defending support, I think the path of least resistance remains higher.