$SPX Holds 100DMA as $VIX Hedge Pressure Cools

SmartReversals
02-25 10:46

$S&P 500(.SPX)$ : The "First-Day Trap" thesis posted yesterday is playing out.

The price held its 100DMA, with the $6,818 support level acting as a bouncer.

Bulls still have work to do: the primary task is to maintain price action above $6,866, followed by a necessary reclaim of $6,910.

Cboe index $Cboe Volatility Index(VIX)$ hedge readings on February 2026:

Feb 10 → 53.8%

Feb 13 → 51.9%

Feb 17 → 54.9% ← peak

Feb 20 → 42.7%

Feb 23 → 45.6%

Above 50% = elevated institutional hedging. Markets were under pressure during that stretch.

Heading into Tuesday's open, reading is declining. Worth monitoring.

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