S&P 500 (SPY) High in May 2026 prediction

SPY sits at $739, and the finish line is $750 — barely a nudge from here. The key insight most people gloss over: you don't need a sustained close above that level, just one intraday spike touching it on a single one-minute candle. That is a fundamentally easier ask than it sounds. The tape is set up for exactly that. The S&P just closed at record highs, driven by strong April payrolls, semiconductor earnings beats, and softening oil prices that have taken the geopolitical sting out of inflation. With CPI expected to confirm the disinflation trend, buyers have a clean story to keep leaning into. Yes, a hot inflation print could flip the rate narrative fast, and profit-taking at record highs is always lurking. But sellers have been unable to hold dips, and there are still roughly two weeks of sessions on the clock. You only need one good day — the momentum is real, the proximity is tight, and fading this setup at this range would be the mistake. Back YES.