S&P500 Buy? Positive market outlook ahead

Good day traders!

We're looking at a potential buy setup for $S&P 500 Index (.SPX.US)$

And this is why:

1.) From the beginning of August 2022 to the present, the price has been in a descending trend on the H4 chart.

2.) However due to the CPI news release being better than last month and expected, it might cause a short-term bullish momentum hence I'm looking for a buy.

3.) There may be some opportunities for a buy entry at the 3478.54 level, which is the intersection of the 100% Fibonacci extension line and the 127.2% Fibonacci extension line.

4.) Take profit will be at 3636.87, where the 100% Fibonacci lines and previous low are.

5.) Stop loss placement will be at 3327.09 where the 145% Fibonacci line is.

Is there anyone else who believes the same way?

Trade Entry recommendations:

Buy Entry: 3478.54

Take Profit: 3636.87

Stop Loss: 3327.09

Other tickers to recommend:

For 5x Long Leverage: $S&P 5xLongSG250228 (CUEW.SG)$

For 5x Short Leverage: $S&P 5xShortSG250228 (CXBW.SG)$