Type:
Bullish Rise

Key Levels:
Resistance: 4201.75
Pivot: 4072.00
Support: 3948.25

Preferred Case:
On the H4, with price moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from our pivot at 4072.00 where the pullback support and 23.6% fibonacci retracement are to the 1st resistance at 4201.75 where the swing high resistance and 100% fibonacci projection are.

Alternative Scenario:
Alternatively, price could break pivot structure and drop to 1st support at 3948.25 where the pullback support, 50% fibonacci retracement and 100% fibonacci projection are.

Fundamentals:
Due to the House Speaker Nancy Pelosi's trip to Taiwan capital, Taipei, the S&P 500 is exposed to downside risk and we have a bearish view on the S&P 500 Index . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.