On December 20, 2024, U.S. stock markets showed signs of recovery after a challenging period, with the Russell 2000 ETF ($IWM) leading the charge, gaining 2% from premarket lows. The S&P 500 ($SPX) experienced a notable bounce, filling a gap from the Election Day opening and showing resilience around key support levels, particularly at $575 and $580. The market's upward movement was attributed to a relief bounce driven by expiring call gamma and a decrease in the VIX, which fell by 23% during the session. Analysts noted that the market's behavior indicated a potential squeeze as breadth turned slightly positive. Additionally, Tesla ($TSLA) rebounded significantly, recovering 30 points from its premarket low and holding steady at $420. The day was marked by high trading activity, including a notable purchase of $5 million worth of May $860 calls for Tesla, suggesting bullish sentiment among some investors. The overall market sentiment reflected cautious optimism as traders anticipated further movement into the holiday week.