The S&P 500 Index ($SPX) is approaching its all-time high of 5,670, currently sitting just 40 points away. Following a rally on August 23, the index is attempting to maintain levels above 5,600, with analysts expressing a bullish outlook despite potential limitations ahead of the upcoming jobs report on September 6. Support for the index is noted around 5,550, with a significant drop below this level potentially leading to a decline towards the 50-day moving average at approximately 5,486. The market experienced positive breadth, with the SPDR S&P 500 ETF Trust ($SPY) trading above 562 and the Russell 2000 ETF ($IWM) rising by 3%. The volatility index (VIX) has also dropped below 16, indicating a bullish sentiment in the market. Analysts anticipate a strong performance from NVIDIA ($NVDA) could further propel the index towards an interim all-time high of 5,700, although some caution remains regarding profit-taking and market reactions to the Jackson Hole economic symposium.