The SPX index (SPX6900) has surged 17% in the last 24 hours, fueled by increased open interest and significant whale buying. Open interest has climbed to $29 million, a level last seen on November 18, which historically indicates strong upward price movements. Whale wallets have been actively accumulating, with the long-to-short ratio at 1.67, reflecting a notable shift in market sentiment. The index has maintained its position above a crucial EMA support level, suggesting a potential advance towards the $0.72 resistance. Continued whale participation and stable funding conditions are essential for sustaining this bullish momentum.