S&P 500 Pushes Higher While RSI Signals Risk, VLO Slips, and JNJ Finds Support

Markets continue pushing to record highs, but momentum is showing signs of fatigue, according to Charles Schwab's Ben Watson, with bearish divergences pointing to a potential slowdown. He highlights key technical levels for the S&P 500 (SPX), while noting weakness in energy names like Valero (VLO) and emerging strength in defensive plays like Johnson & Johnson (JNJ).

The Watch List

08 May 2026

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