The S&P 500 Index (SPX) gained 63+ points on March 17, 2025, closing at 5675.11 after reaching an intraday high of 5703.52. The movement was driven by oversold conditions and weak economic data, including poor retail sales and manufacturing figures, which followed stagflationary University of Michigan (UoM) data released on March 14. SPX breadth broadened during the session, with key resistance observed at 5700, influenced by gamma positioning and dealer hedging dynamics. Liquidity factors, including a GammaFlip level of 5907, and a 0DTE (zero days to expiration) pinning effect contributed to the market's behavior near the 5680-5700 range. The VIX, a measure of market volatility, declined to the 20-handle, signaling reduced volatility expectations. Analysts highlighted the importance of sustained breadth and strength for continued upward momentum, especially with the Federal Open Market Committee (FOMC) meeting approaching.