Market Recovery After Volatility Spike

Both SPY and QQQ have shown constructive bounces after mid-week volatility, with SPY recovering from lows near 677.56 to close around 685.40. Technical indicators suggest the recent pullback may have found support, with EMAs providing solid foundations around 684-687 for SPY and 617-619 for QQQ. VIX has spiked to 18.84 from mid-15s, reflecting elevated uncertainty, but market breadth has improved from negative to positive 4/1 ratios. Key resistance levels to watch: SPX at 6885-6925 range and QQQ reclaiming 619 on a closing basis. The broader market appears to be stabilizing after geopolitical concerns eased, with sector rotation favoring energy and technology leading the recovery.