Bullish Rise

Key Levels:
Resistance: 2564.0
Pivot: 2494.8
Support: 2460.9

Preferred Case:
On the H4, with prices moving above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 2494.8 where the pullback resistance is. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 2564.0 where the swing high resistance is.

Alternative Scenario:
Alternatively, price could drop to the 1st support at 2460.9 where the pullback support, 61.8% fibonacci projection and 23.6% fibonacci retracement are.

Due to fresh worries of global growth and House Speaker Nancy Pelosi's trip to Taiwan capital, Taipei, we have a bearish view on the Midcap 400 index. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.