The key US stock index S&P500 has pulled back from recently hit all-time highs around 7618, closing the week with a bearish engulfing candlestick pattern. A breather is a logical move before the next push upwards. In this case, the potential point for resuming the upward movement could be the support area formed by the breached psychological highs of 7000, as well as the 50% retracement level from the impulse between 31.03.2026 and 03.06.2026 (on the chart, the Fibonacci grid is stretched between points 1 and 2), which is near 6315. For buyers, the target in an optimistic scenario would be a second assault on that same historical peak — 7618.