SPX Trend Observation: Today’s slight decline is not enough to break the upward trend. The key is whether the closing price can hold above the 6954 level— as long as it stays steady here, the index is expected to continue moving towards the next monthly resistance level at 7062. If it falls below 6954, the situation could change. Worth noting is that the U.S. Supreme Court is about to make a ruling on tariffs, which could cause turbulence in the U.S. stock market and the entire risk asset market. Market participants need to monitor signals from both dimensions simultaneously.