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S&P 500 (SPX/USD) — Calm Before Major US Data

Key Highlights

• S&P 500 trades at 6845.49, up 0.25%
• AI-linked stocks rebound; crypto volatility cools
• Markets price 89% chance of Fed cut next week

Market Overview

US equities stabilized on Tuesday, fueled by a rebound in Bitcoin and renewed strength in AI-themed names. Nvidia, Credo Technology, and other AI infrastructure plays helped offset ongoing valuation concerns.

Volatility remains elevated as markets position ahead of today’s major indicators:

• ADP Employment Change
• ISM Services PMI

These will determine whether the Fed’s path to easing strengthens or softens.

Technical Outlook

• Stochastic mid-range → neutral momentum
• Price slightly above the 20-period MA
• Market awaits fresh direction

Key Levels

• Resistance: 6927.72 / 7031.41
• Support: 6750.36 / 6653.03

Fremora Takeaway

Index remains supported above 6800.
Data disappointment = test of 6927.
Strong US data = pressure toward 6750.

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WTI Crude Oil (USO/USD) — Retreats as Oversupply Dominates

Key Highlights

• WTI slips to 58.51, reversing Monday’s bounce
• Oversupply concerns remain the dominant theme
• Today’s EIA inventories will set the tone

Market Overview

Crude oil lost ground on Tuesday as traders shifted focus back to structural oversupply. Forecasts for massive global output increases (2025–2026) continue to cap rallies, while Russian and Chinese demand uncertainties add downside pressure.

Today’s EIA stockpile data will be critical.
Another inventory build could pull prices sharply lower toward $57.

Technical Outlook

• Stochastic trying to turn from oversold
• Price remains below the 20-period MA
• Setup favors short-term bounce, but trend remains weak

Key Levels

• Resistance: 59.21 / 59.92
• Support: 57.79 / 57.04

Fremora Takeaway

WTI’s rally attempts continue to fail as fundamentals dominate.
Below 59.21, sellers remain in control.
Only a surprise EIA draw provides short-term relief.