The S&P 500 index futures clung to last week’s consolidation zone during Tuesday’s session as bulls stepped in to buy the dip.

Overnight action stayed steady after Monday’s selloff. In the final premarket minutes, bears drove to new lows, and after the bell the index futures bottomed 6828.50 to form a double-bottom with Monday’s low. Bulls then launched a sharp rebound straight into the green, but resistance held near the premarket high and flipped momentum briefly. December wholesale inventories came in mostly as expected while February consumer confidence beat forecasts, yet the action turned positive again with bulls defending Monday’s close and igniting another rally. 

By lunch, the index reached the 6900 area and consolidated there for the rest of the session. In the closing minutes, bulls pushed to a high of 6912.75. The session closed near that high at 6903.75, up 52.25 handles.

Wednesday brings some fedspeak and a heavy earnings slate morning and evening, including NVIDIA Corp (NASDAQ: NVDA) at approximately 4:20 PM ET.

Among the top components of the index, Tesla Inc (NASDAQ: TSLA) stood out as the biggest gainer, climbing $9.55 or 2.39% to close at $409.38.

That performance was over three times better than the cash index’s 0.73% advance.

Conversely, Broadcom Inc (NASDAQ: AVGO) was the biggest loser, falling $4.85 or 1.47% to close at $325.49.