The S&P 500 (SPX) began the day at 5,881, positioned below its put support level. Market analysts have identified an immediate hurdle at 5,925 and a broader resistance at 5,995, which coincides with negative gamma dynamics. To reduce volatility, market observers are looking for the SPX to move above the high volatility level (HVL) of 5,995. The current gamma flip for the SPX is calculated at 5,993, with a call-to-put gamma ratio of 0.89 for options six months out. The market remains in a negative gamma state as long as the SPX stays below 6,000, suggesting potential for increased volatility and a likelihood of downside continuation. Meanwhile, the VIX, a measure of market volatility, experienced fluctuations, reaching as high as 18.70 during the day before settling at 17.28. The VIX's movement above 18 was noted as a significant threshold, potentially signaling a bearish trend.