S&P 500 Index Price Outlook – Trade SetupUS 500 IndexPEPPERSTONE:US500ATFX_Global🌐Macro Background Record Wall Street Highs & Tech Support: The S&P 500 notched a record-high close, propelled by strong gains in tech heavyweights such as SanDisk. Tame Inflation & Fed Policy Outlook: Unchanged July Producer Price Index (PPI) data confirmed moderating wholesale inflation pressures, reinforcing expectations that the Federal Reserve will leave interest rates unchanged at its September meeting. Investor attention shifts to the U.S. July Retail Sales report, projected to expand by 0.2% MoM. A weaker-than-expected reading could reignite soft-landing concerns, placing downward pressure on the U.S. dollar while further dampening rate-hike speculation. 📊Technical Structure The US500 (4H) chart exhibits an ascending trend channel following a massive bullish impulse from early August lows. Resistance Zone (7,843 - 7,887): The primary target and resistance boundary defined by the upper channel line and extension projection. Support Zone (7,738 - 7,774): Represents the immediate demand band, aligned with lower channel line support and recent swing consolidation. 🎯Trade Setup Pullback Entry: Long retest on a shallow dip into the 7,738 – 7,774 support zone. Target 1: 7,843 (Lower boundary of Resistance Zone) Target 2: 7,887 (Upper boundary of Resistance Zone / Channel Ceiling) Stop Loss: 7,715 – 7,725 (20–30 points below the 7,738 structural support) ❌Invalidation Closing below 7,738 breaks the lower ascending channel boundary, invalidating the immediate bullish continuation bias. 📝Trade Summary Look to buy on a pullback into 7,738–7,774, targeting 7,843 and 7,887, with stop losses placed at 7,725 and structural invalidation on a close below 7,738. ⚠️Disclaimer This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.