As of March 28, 2025, the S&P 500 index is experiencing fluctuations in its performance according to a cross-asset model. Two hours ahead of the New York market opening, the model indicated a -0.06% loss for the S&P, with futures down by 0.14% since the previous close. The model's signals show that foreign exchange (FX) is the most bullish at +0.05%, while global equities are the least bullish at -0.14%. Over the past 20 days, the S&P has outperformed the model by 1.66%. In contrast, the MAG 7 ETF, which includes major tech stocks, has shown a year-to-date decline of 12.3%. Recent observations indicate that the MAG 7 ETF is struggling at its 200-day moving average, reflecting broader market challenges. Additionally, over the past two months, the cap-weighted S&P 500 has dropped 6.2%, while the equal-weighted S&P 500 has seen a decline of 4.2% and the MAG 7 has fallen by 14.8%.