FundamentalOverviewThe uncertainty about aDecember cut has been putting a lid on further stock market gains. Theprobability for a December cut is now a bit below 50%. It’s still basically a50/50 chance, but we will likely need soft labour market or inflation data to getthe Fed to cut at the upcoming meeting. In fact, there’s a strongdebate within the FOMC whether a December cut is warranted at this point. Thedata will have the final say, and the decision-maker will likely be the NovemberNFP expected to be released in the first week of December just a few days beforethe FOMC meeting. Strong data is likely toweigh on the market on a further hawkish repricing, while soft data should givethe market a boost as rate cut hopes would increase. S&P 500Technical Analysis – Daily TimeframeOnthe daily chart, we can see thatthe S&P 500 bounced once again around the major trendline. If we get another drop, we can expect the dip-buyers to step in thereagain with a defined risk below the low to position for a rally into new all-timehighs. The sellers, on the other hand, will want to see the price breakinglower to increase the bearish bets into the 6,541 level next.S&P 500 TechnicalAnalysis – 4 hour TimeframeOnthe 4 hour chart, there’s not muchwe can glean from this timeframe as we don’t have clear levels where to leanonto other than the above mentioned major trendline, so we need to zoom in tosee some more details.S&P 500 TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that we have a minor support zone around the 6,745 level. If the price pullsback into the support, we can expect the buyers to step in there with a definedrisk below the support to position for a rally into the 6,900 level next. Thesellers, on the other hand, will look for a break lower to increase the bearishbets into the major trendline targeting a breakout. The red lines define the average daily range for today.UpcomingCatalystsTomorrow we get the weekly ADP jobs data. On Wednesday, we have the FOMCmeeting minutes. On Thursday, we get the September NFP report and maybe the USJobless Claims data. On Friday, we conclude the week with the US Flash PMIs. This article was written by Giuseppe Dellamotta at investinglive.com.