Technical analysis by KhanhC.Hoang about Symbol SPYX on 9/15/2025

S&P 500 (SPX): The uptrend continues, with the SPX reaching a new high and nearing a secondary target of 6,625. However, there are significant risks, including historically poor performance during the last ten trading days of September, which coincides with an expected Fed rate cut on September 17. Other risks include narrowing market breadth, NVIDIA's stock trading in a narrow range, and a "Dow Theory" divergence where the industrial average's breakout is unconfirmed by the transportation average.