FUNDAMENTAL OVERVIEWThe strong rally in the S&P 500 has stalled last Wednesday as the US-Iran deal failed to materialise within the expected timeline. The next major event will be the US CPI report tomorrow. S&P 500 TECHNICAL ANALYSIS – DAILY TIMEFRAMEOn the daily chart, we can see the S&P 500 stalled around the upper bound of the rising channel as traders await the US CPI report. S&P 500 TECHNICAL ANALYSIS – 4 HOUR TIMEFRAMEOn the 4 hour chart, we can see more clearly the consolidation that started last Wednesday when the US-Iran deal failed to materialise. UPCOMING CATALYSTSTomorrow, we have the US CPI report.