The S&P 500 stays under pressure as peak inflation narrative collides with US-Iran crisis

The article says the S&P 500 remains rangebound and under pressure as softer US inflation data has strengthened the peak-inflation narrative, but renewed US-Iran geopolitical tensions are offsetting the bullish rate-cut implications. Overcrowded positioning is also contributing to deleveraging and limiting upside. Technically, the index rejected resistance around 7,630 and could retreat toward 7,200 if sellers keep control, while near-term support sits around 7,475 and a break lower could target 7,357. The piece argues that continued escalation in US-Iran headlines should keep equities pressured, whereas any de-escalation could trigger a rebound and possibly new highs. The University of Michigan Consumer Sentiment report is the only scheduled macro catalyst mentioned, but geopolitics remain the main driver.