S&P 500 Hits Record 7,165; Evercore Targets 7,750 Base, 10,675 Rally Potential

The S&P 500 surged to a record high of 7,165.08, up nearly 13% from its March 30 low, with its 14-day RSI flipping from oversold to overbought in just 12 sessions—the fastest move outside August 1982. Evercore ISI strategist Julian Emanuel projects a 1982-style repeat could drive the index to 10,675 by June 2027, but warns of differences like today's 25x P/E versus 8x then. Base case sees 7,750 in 2026 if oil eases to mid-$80s, while WTI sustained above $90 or spiking to $120 risks a plunge to 6,315 or lower.