SPY is bullish while trading above 7,575; cautious for 2027 due to AI capex slowdown risks.

Now, okay. Um, right now you're bullish on the S&P 500, 7,000, uh, sorry, 8,000 points by the end of the year. So, I'm still cautious on the S&P for 2027. And part of that is the fact that I do think there's going to be repercussions at some point as soon as we see a slowdown in capex from AI companies.

But based on the S&P 500, again, this is kind of my neutral zone on the chart where you can see if we got inside of this, I'd kind of go into more of this neutral. Let's wait and see. But we have stayed above.

Anything above 7575 on the S&P, I remain bullish. This trend line here, let me go back here. This trend line, orange trend line, goes all the way back to these lows going back through 2022.

It connects through all of the lows, including this high from January, uh, June of this year to this high in August and the secondary one in August. That really, again, if you look at that, that's every time we've hit that trend line, we've had a pullback on the S&P.

So, as a short-term target, it makes a lot of sense.