As of December 9, 2024, the S&P 500 Index (SPX) is trading at 6,090.28, positioned within a critical range defined by support and resistance levels. The index is approaching a cash gap fill to Thursday's close at 6,075.11, while the low from December 4, recorded at 6,061.06, has been surpassed by a slight margin. Analysts note that the SPX is nearing an open gap from the previous week, which aligns with a significant support zone around the 6,055 JPM collar strike. There are indications that the SPX could test a day low of 6,052, with potential to drop further to 6,042. Current observations suggest that the SPX is experiencing a normal dip after reaching the 6,100 level. A key level to watch is 6,070; a break below this could shift the volatility regime. Overall, the SPX is expected to remain within the 6,050 to 6,100 range throughout the week, with substantial options positioning influencing price action.