Bullish Rise

Key Levels:
Resistance: 4302.00
Pivot: 4204.50
Support: 4071.50

Preferred Case:
On the H4, with price moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise from pivot at 4204.50 where the pullback support is to the 1st resistance at 4302.00 in line with swing high resistance and 61.8% fibonacci projection .

Alternative Scenario:
Alternatively, price could break pivot structure and drop to 1st support at 4071.50 where the pullback support, 100% fiboancci projection and 38.2% fibonacci retracement are.

Since the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation , 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.