Last Friday at the central bank’s annual symposium in Jackson Hole, Wyoming, the Fed Chair Janet Yellen was viewed by almost everyone as surprisingly hawkish stating that “a quicker-than-expected recovery could result in a sooner-than-anticipated rate hike”, but without lifting the tip of the veil over when interest rates will rise. On today’s economic agenda we have new home sales change from the U.S in July with is expected to rise 4.70% showing some signs of economy recovery although the Markit Services PMI in August is expected to fall 59.2. Usa500 is within a bullish phase in a up trend, which indicates a continued growth. The index has marginally broken up through the resistance zone at 1979 and 1985. Last Friday the Usa500 established an inside day near the end of a prolonged uptrend may suggest that the rally is getting exhausted and is likely to make a correction also stochastic is showing signs of overbought. Expecting downward move to 1,959 on a break of below support zone at 1,979 (scenario 1) or a break above the Fridays high at 1,991.25 could push the Usa500 up to the next Fibonacci expansion at 2,002.82 (scenario 2). Usa500 is a CFD written over S&P500 futures.