S&P 500 Clears 7,800 as Kobeissi Letter's September Target Is Met

The S&P 500 has moved above 7,800, reaching a level The Kobeissi Letter said it was targeting after the index dipped into the 7,600 area in September. The Kobeissi Letter said the 7,800 objective was shared with premium members on Friday, October 3, 2026. It noted that as the index traded around 7,600 in September, it increased bullish exposure for subscribers. From the 7,600 entry area to 7,800+, the move totals about 200 points, or roughly 2.6%. Technical notes referenced by the service include a break out of a descending channel earlier in the cycle, a backtest of the breakout level on October 1, and an RSI rebound off the 50 support zone, based on a chart posted by @KobeissiLetter on X. Price has now reached the 7,800 resistance area highlighted on that chart, with the projection pointing toward potential new record highs if the level is cleared decisively. The advance comes as broader risk appetite appears firm. In a separate development, spot Bitcoin ETFs recorded $999M of inflows in a single day, the largest since October 2025, signaling elevated institutional demand for risk assets heading into the week. The Kobeissi Letter did not cite a specific macro catalyst for the day's move, characterizing the call as structural and chart-based, initiated around the September 7,600 low and confirmed with the market trading at 7,800+ on October 6, 2026. Source: x.com. Published by CoinsProbe Markets Desk.