"The rate environment worsened, which was another reason for caution among Wall Street strategists earlier this month, with the 10-year Treasury yield hitting 5%...As mentioned last week, the April-May and early August action has defined the 2026 gain in the broader market. Take out these days or weeks, and the index has either traded below its 2025 close or sideways for much of this year. However, the fact of the matter is that the SPX reached a new closing all-time high a little over one month ago and is ...