[The 'September Curse' Approaches: U.S. Stocks Brewing a Breakout Amid Calm] Odaily Planet Daily News – U.S. stocks barely maintained an upward trend in August amid volatility, but analysts warn that as the S&P 500 stalls at high levels, the rebound in U.S. Treasury yields and valuation discrepancies surrounding Nvidia have pushed the market to a critical tipping point. Despite shrinking trading volumes and narrowing index fluctuation ranges, U.S. stocks managed to sustain their upward momentum in August. After the S&P 500 broke through its all-time high of 7,800 points two weeks ago, it is now hovering within 2% of its peak. However, investors should not be deceived by this apparent 'calm.' Historical data shows that September is often the worst-performing month for U.S. stocks. In 2026, a presidential election year with strong prior market performance, seasonal factors may shift. Veteran market commentator Michael Santoli noted that what truly warrants caution is that several key market indicators are in a 'stretched' state. Once thresholds are breached, the market's qualitative nature could undergo a dramatic transformation. On the individual stock level, Nvidia (NVDA.O) is facing an awkward valuation logic trap. While analysts are generally optimistic about its prospects, with consensus price targets suggesting its market cap could reach $7.5 trillion, the market is currently unwilling to pay a premium for its high growth.