The S&P 500 ETF Trust (SPY) has experienced a notable recovery, rising approximately 6.9% from Monday's low and gaining 2.3% over the week, with key resistance and support levels identified around $545 to $548. Market participants are closely watching the $545-$550 range, which corresponds to a critical gamma level influencing price movements and volatility. The S&P 500 index (SPX) is also exhibiting volatility around the 5,360 to 5,450 levels, with open interest and gamma exposure indicating potential for price swings and resistance near 5,445. The Nasdaq 100 ETF (QQQ) has outperformed, rallying 7% over the last three sessions and closing 9% higher from Monday's lows, now turning positive for the month. Volatility remains elevated across major tech stocks and indices, with Tesla (TSLA) showing a 4.6% price increase to $237.97 but accompanied by bearish signals in the options market. NVIDIA and Palantir exhibit heightened implied volatility, reflecting traders' demand for downside protection amid ongoing market uncertainty. The VIX term structure remains inverted, signaling sustained short-term hedging demand. Overall, the market is navigating a delicate balance between bullish momentum and resistance at key technical levels, with gamma-driven dynamics playing a significant role in near-term price action.