According to CoinMeta, the S&P 500 index is currently at a critical technical level that could determine the next move of the market. After two days of price fluctuations, bulls and bears are once again confronting each other at this key level. Meanwhile, market breadth indicators based on volatility are showing bearish signals. Options traders and market makers in Chicago quickly bought below the benchmark index at 7,500 points, but they also sold quickly above that level. If it falls below this level, it could trigger even more intense fluctuations. Data from Spotgamma and Barchart indicates that interest in opening contracts at SPY ETF is highest at 750 points. If it drops to 745 points, market makers may no longer provide stability, leading to a "negative gamma" phenomenon that could weaken support. The founder of Spotgamma, Brent Kochuba, stated that if SPX breaks below 7,450 points, there will be a search for greater downside potential.