S&P500 tone is cautiously constructiveUS 500 (per 1.0)TRADENATION:US500TradeNationS&P 500 futures are modestly firmer this morning, recovering most of Monday’s losses as sentiment stabilises despite ongoing geopolitical uncertainty. The index managed to limit yesterday’s decline to just -0.24%, with late-session buying helping to cushion earlier weakness. The key driver remains developments around Iran, with cautious optimism around potential talks supporting risk appetite. Oil prices have edged lower after yesterday’s sharp gain, and market-implied probabilities of shipping disruptions in the Strait of Hormuz easing have improved, helping equities stabilise. However, uncertainty persists as the ceasefire deadline approaches and rhetoric remains mixed, keeping a lid on stronger upside. Rates are drifting slightly higher, with modest upward pressure on Treasury yields, while the VIX has picked up but remains relatively contained, suggesting only a mild increase in hedging demand rather than outright risk-off positioning. Focus today will be on political and macro signals, particularly Kevin Warsh’s Fed confirmation hearing, which could influence rate expectations and broader market sentiment. Overall, the S&P 500 tone is cautiously constructive, with downside risks tied to geopolitical headlines and upside dependent on further signs of de-escalation and stable yields. Key Support and Resistance Levels Resistance Level 1: 7190 Resistance Level 2: 7235 Resistance Level 3: 7270 Support Level 1: 7050 Support Level 2: 7000 Support Level 3: 6954 This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.