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– The market is currently at a geopolitical crossroads with risk increasingly affecting the tech sector.
– Despite the market being down 1.3%, the SPX’s expected moves suggest the market is relatively unchanged for the week.
– Volatility indicators like VIX and volatility futures suggest heightened risk. VIX trading at around 20 signifies a more severe market situation than previous sessions.
– Tech remains a significant focus, with some big players like Nvidia facing challenges. However, tech giants such as Microsoft and Google remain relatively unscathed.
– With substantial open interest in SPX and heightened gamma risk, the market can expect significant volatility in the upcoming sessions.