S&P500 gets ready for a big week ahead 📈

Hello, good day traders! 👋

I'm looking for a potential buy📈 setup for $S&P 500 Index (.SPX.US)$ , with both fundamental and technical indicators to back it up.

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📰Fundamentally,

The week ahead includes key market-moving events such as November Consumer Price Index (CPI) data on Tuesday morning and a Federal Open Market Committee (FOMC) decision on Wednesday afternoon, when the Fed is expected to raise the Fed funds rate by 50 basis points.

Market participants will weigh November retail sales and initial and continuing jobless claims data on Thursday morning as they assess the impact of the Fed's rate hikes this year. This data will be released at a time when some economists are predicting a recession.

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🤔On the technical front,

1.) Looking at the H4 chart, my overall bias is bullish with the price above the Ichimoku cloud, indicating a bullish market.

2.) Looking for a potential buy entry at 3907.07, where the 50% Fibonacci line is.

3.) Stop loss will be set at 3806.91, where the 38.2% Fibonacci line is.

3.) I am looking to take profit at 4097.29 where the 78.6% Fibonacci line is located.

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Trade Entry recommendations:

Buy Entry: 3907.07📈

Take Profit: 4097.29 💲

Stop Loss: 3806.91❌

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