S&P 500 hugging its record high: the bullish signal holds while strength fades

The S&P 500 sits less than half a percentage point from its record high, with the weekly bullish signal in its 6th week. The technical structure shows no cracks — aligned moving averages, price above the Ichimoku cloud — but Signal Strength recalibrates to 0 out of 100, fading, and the first of three statistical profit-taking areas has already been reached. A mature picture, not a reversal.