TradeAlerts AI

Markets Grind Higher, Tech Leads as VIX Eases Off

Daily Market Brief — March 17, 2026
SPY: $669.03 (+1.02%) | QQQ: $600.38 (+1.12%) | VIX: 23.38 | 10Y: 4.22

Market Overview

SPY's up 1.02% to $669.03, clawing back some ground like a fighter getting off the mat after a tough round. QQQ's leading the charge with a 1.12% pop to $600.38, showing tech's got that extra gear even as broader averages lag their moving averages. Volume's decent, but we're still below the SMA20 at 680.8 for SPY—feels like everyone's waiting for the afterparty to kick off.

No major fireworks today, but the green close suggests buyers are dipping toes back in after recent volatility. Keep an eye on that 1%+ gain in QQQ; it's the kind of subtle strength that could build if dip-buyers pile on.

Key Levels: SPY & QQQ

TickerTA ScoreMode S1S2R1R2
SPY5/10IMPROVING[{'tag': 'S1', 'price': 655.16, 'label': 'Support', 'type': 'sr', 'pct': '-2.1%', 'action': 'Add'}, {'tag': 'S2', 'price': 568.82, 'label': 'Support', 'type': 'sr', 'pct': '-15.0%', 'action': 'Strong add'}, {'tag': 'S3', 'price': 480.59, 'label': 'Support', 'type': 'sr', 'pct': '-28.2%', 'action': 'Max buy zone'}]665.2N/AN/A
QQQ5/10IMPROVING[{'tag': 'S1', 'price': 585.72, 'label': 'Support', 'type': 'sr', 'pct': '-2.5%', 'action': 'Add'}, {'tag': 'S2', 'price': 497.22, 'label': 'Support', 'type': 'sr', 'pct': '-17.2%', 'action': 'Strong add'}]593.43N/AN/A
TickerSMA 20SMA 50SMA 200
SPY680.8686.12681.47
QQQ605.28613.05614.37

Levels Commentary

SPY's sitting at $669.03 with supports kicking in at $655.16 (S1, -2.1% dip for adds) and deeper at $568.82 (S2, -15% for strong adds)—watch these like velvet ropes at a VIP spot, they'll hold or break the party. No resistances listed, but the bull scenario flags a break above $673.08 targeting $675.57 with 35% odds, needing volume to confirm that bull flag setup. Score's 5/10 improving, so I'm eyeing that $673.08 as the bouncer to get past.

QQQ mirrors it at $600.38, supports at $585.72 (S1, -2.5%) and $497.22 (S2, -17.2%)—prime zones to watch for buyers stepping up. Bull trigger at $602.30 aiming for $603.56 (35% prob), same volume caveat; if we punch through, it's like snagging the best table in South Beach.

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Macro Snapshot

Dollar (DXY): NoneGold: $5013.7BTC: $74079.7

VIX dipped 0.55% to $23.38, signaling fear's easing like the crowd thinning out at last call—markets breathing easier. Yields on TNX fell 1.52% to $4.22, dollar data's MIA but gold's up 0.39% to $5013.7, hinting at some safe-haven buying amid mixed signals; overall, it's whispering rotation into risk assets if vol keeps cooling.

Today's Trade Ideas

Our proprietary model is flagging unusual activity in select names—MRK in healthcare showing bearish vibes with elevated put flow that screams caution, while XPEV's high-beta setup looks primed with institutional buyers quietly loading up like they're reserving the whole rooftop.

MRK
Healthcare
Our proprietary model flags MRK as showing bearish signals with elevated put activity.
🔒 Full play details (strike, expiry, conviction) available to Founding Members
XPEV
High Beta
Our proprietary model flags XPEV as looks bullish with unusual institutional flow activity.
🔒 Full play details (strike, expiry, conviction) available to Founding Members

The Bottom Line

Focus on that SPY $673.08 breakout level—it's the gatekeeper for upside momentum today. If we clear it with volume, tech could drag everything higher; otherwise, those supports below might get tested hard. My book’s positioned light, watching from the sidelines like I’m at a Miami pool party scanning for the real action.

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Disclaimer: This content is for informational and educational purposes only. It is NOT financial advice. Trading options involves significant risk of loss. Past performance does not guarantee future results. Always do your own research and consult a licensed financial advisor before making investment decisions.