S&P 500 Futures Market Analysis: Week of September 22, 2025 1.0 Foundational Analysis: The Macro Crosscurrents The market opens this week in a state of profound paradox. The S&P 500 is printing record highs, driven by powerful technical signals and a compelling AI growth narrative. Yet, this bullish price action is set against a backdrop of significant economic warnings, historically stretched valuations, and deteriorating investor sentiment. For any trader, understanding these conflicting forces is not an academic exercise—it is the critical foundation for managing risk in a complex and potentially volatile environment. -------------------------------------------------------------------------------- 1.1 The Valuation Dilemma: A Market in Bubble Territory? Multiple historical valuation metrics suggest the market is not just overvalued but is exhibiting characteristics consistent with prior market bubbles. While valuation is a poor timing tool in the short term, the curre...