The S&P 500 index futures gained some progress during Tuesday’s session, but bulls could not sustain momentum through resistance.

Overnight, index futures held below unchanged while bears only managed a low of 6715.75. Early morning reports of potentially easing developments in the Strait of Hormuz seemed to give bulls momentum heading into the regular session. Index futures finally broke into the green and accelerated into the 6800 handle after the opening bell. The high printed at 6808.50 where resistance held firm. Bids soon gave way to a slow selloff that carried through the rest of morning. 

Support was found above Monday’s close, but bulls and bears were locked in a standstill, with the index futures remaining in a fairly tight range for the rest of the day. The session closed in that range, above the day’s midpoint at 6773.25, up 17.75 handles.

Wednesday brings February’s PPI data at 8:30 AM ET, the FOMC interest-rate decision at 2:00 PM followed by the press conference, plus a few earnings reports morning and after the close.

Among the top components of the index, Alphabet Inc (NASDAQ: GOOGL) stood out as the biggest gainer, rising $5.36 or 1.75% to close at $310.92.

That performance was a significant six times better than the cash index’s 0.26% advance.

On the other hand, Broadcom Inc (NASDAQ: AVGO) was the biggest loser, falling $3.61 or 1.11% to close at $321.31.