S&P 500 Daily Update for Monday March 24, 2025

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Summary of the Daily Update for Friday, March 21st, 2025, with a look ahead to Monday, March 24th:
The market experienced choppiness on Friday due to options expiration at the end of the quarter, closing slightly positive (+0.08%) after spending most of the day negative. Prices opened lower, fell below S1 at 5626, then oscillated around 5650 before surging to hit resistance at the daily pivot (5669). Volume was well above average due to options expiration, sometimes referred to as "triple witching" or "quadruple witching."
Despite the positive close, the SPX remains negative in the short and intermediate term, trading below the 20, 50, and 200-day moving averages, though the long-term trend is still positive. Interest rates remained stable, but geopolitical uncertainties (e.g., Russia-Ukraine, U.S. involvement, and domestic changes) and recession fears continue to weigh on sentiment. Mega Caps outperformed, driving the late surge in the S&P 500.
Key technicals:
The VIX is below 20 (19.28), signaling easing fear, though still elevated.
The Short-term indicators like StochRSI are extreme positive, while ADX suggests a weakening trend. The TTM Squeeze is rising, and a non-confirmed Hindenburg Omen persists until March 31st.
Sentiment remains extreme negative (23 on the sentiment scale), with the 10-3-month yield curve inverted.
SPX internals show mixed signals: The Smart Money Indicators (Accumulation Distribution, Chaikin Money Flow, Chaikin Oscillator) turned positive, but other indicators such as the Vortex and Moving Average Studies remain negative. Growth outperformed value, with the "Magnificent Seven" stocks down 12% year-to-date versus the broader S&P 500 -3%.
Looking ahead to Monday, the outlook remains negative in the short and intermediate term, though long-term support is holding. Global PMIs will provide insight, but the market lacks conviction, and is vulnerable to a potential reversal if downside momentum builds. Seasonality for March 24th is mixed, with post-election years sometimes showing strength despite a typically weak post-expiration week.
PDF of Charts and Slides used in today's video:
https://drive.google.com/file/d/13VpTXQLfvYJpjesjtPC-QvgjiEm13r0P/view?usp=sharing
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DISCLAIMER This video is for entertainment purposes only. I am not a financial adviser, and you should do your own research and go through your own thought process before investing in a position. Trading is risky!