Stephen Guilfoyle Sees 7500 as S&p 500 Index Hits Highs

The s&p 500 index hit new all-time highs on good turnover after a couple of down sessions earlier in the week. Stocks are pushing through barriers with a great deal of ease, and Stephen Guilfoyle said that kind of action is not common.

“Stocks are pushing through barriers with a great deal of ease, which is not common.” That line matches the tape now: the market snapped back hard, and the rally carried both the S&P 500 and Nasdaq to new peaks. For investors, the message is that dips are still drawing buyers fast enough to keep the advance alive.

Guilfoyle’s 7500 call

7500 is now in play, at least in Guilfoyle’s view. “Could we see 7500 on the S&P 500? Certainly in the next few days.” He tied that call to a chart that he still called bullish, with candles remaining blue on the GoNoGo composite of indicators.

Since the start of April, a strong MACD buy signal has been in place, and money flow is strengthening at the bottom of the chart. Those are the markers backing the latest move, not a single news headline or one-day burst. If that setup holds, the price action argues the trend is still winning over hesitation.

Breadth stays good, not great

Breadth is good, not great, which leaves the rally with a narrow but workable base. The market is also overbought on a price basis, so the move has outpaced the usual room for comfort. Even so, dips are being aggressively bought, and that keeps the trend from breaking down after brief pullbacks.

The friction point is simple: the market can keep advancing while still needing a rest. Guilfoyle said that rest and pullback could come at any time, even as the bull run has not yet ended. For traders, the immediate task is less about chasing every tick and more about respecting a tape that is still strong, still overbought, and still making fresh highs.