The U.S. stock market has experienced ongoing volatility, particularly with the S&P 500 Index ($SPX) and the SPDR S&P 500 ETF Trust ($SPY). As of March 21, 2025, market participants noted that $SPX needs to close above 5,638.95 to avoid marking a fifth consecutive week of losses. The index reached a high of 5,706.35 on Thursday, March 20, 2025. Traders have been locking in profits, with some indicating that if $SPY cannot hold above 565, they will also secure profits. The market's choppiness has been a consistent theme, with analysts advising caution as the index remains below the 5,700 mark.