On December 30, 2024, the VIX (CBOE Volatility Index) experienced fluctuations, with futures initially rising by 7.5% before showing signs of selling off. The index faced daily resistance at 18.48 and 30-day resistance at 19.79, with a high positive gamma exposure at 20.00. The S&P 500 (SPY) was set for its largest opening gap lower since August 5, dropping 1.3%, and was down 0.35% from its post-Election Day opening. Meanwhile, the QQQ index fell below 515, approaching a significant support level at 510. Analysts noted that the recent market behavior was influenced by pension funds selling due to bond market conditions, and the SP futures gapped down over 130 basis points, marking just the fifth occurrence of a -1% gap during the 'Santa rally' period. Overall, the market dynamics indicated a potential bounce if the VIX breaks below 18, which could confirm a market rebound.