The S&P 500 (Index: SPX) rebounded back above its mean trend in August 2026 after briefly breaking below it.
Through the end of trading on Monday, 31 August 2026, the index' value was just slightly below its its trailing 20-day moving average. Meanwhile, the moving average itself was about 96 points (or about 1%) above the level the mean trend trajectory the index has established during its current period of relative order, which has largely held in the 32 months since 31 December 2023.
The following chart visualizes the relationship between the value of the S&P 500 and its underlying trailing year dividends per share from 29 December 2023 through 31 August 2026:
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