U.S. equity futures pointed to a rebound on Monday, with S&P 500 contracts up roughly 0.6% after the benchmark shed 3.2% from its record highs late last week. Spot prices climbed from Friday’s intraday trough near 6,225 to around 6,290 shortly after the New York open, retracing part of the prior session’s slide. The recovery coincided with a sharp pullback in volatility. The Cboe Volatility Index fell to about 18.9, down as much as 12% from Friday’s close, while VIX futures dropped roughly 7.5%–9%. Options desks noted that positioning flipped back into “positive gamma,” a state that can lessen price swings as dealers hedge in the same direction as the market. Technical analysts highlighted 6,200 as an important short-term floor for the S&P 500, with resistance clustered between 6,287 and 6,336 and an intraday target at 6,344. While an options sentiment gauge known as the Option Score has slipped in recent sessions, several strategists said the broader up-trend remains intact and advised buying dips so long as the index holds above the 6,200 zone.