S+P 500 declines the opportunity to to set a new all time high

On Friday the S+P 500 arguably had all the conditions in its favour to set a new record high above 5,669. Well, in the event it shied away from taking that opportunity. The index stalled just above 5,640 again. The high seen was set at 5,641.81. The index later closed out the week, at 5,634.61, after recovering an earlier low set after the European close, at 5,585.16. The index future is currently hovering around that closing level. The broader US stock market has clearly been supported by the almost 100% certainty, that the Fed will deliver a rate cut on September 18. There can be little doubt about that. The question for the index is can it push on to set fresh records ahead of, or even after that? Well, as you can see it declined the opportunity presented it on Friday and as noted here; perhaps that rate cut is now priced in at the current levels?