Preferred case: Looking at the H4 chart, my overall bias for SPX is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Expecting price to continue heading towards the resistance at 4208.50, where the recent swing high is.
Alternative scenario: Price could head back down to retest the pivot at 4091.75, where the 61.8% Fibonacci line is.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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