Since the beginning of the year the US Index gained more than 10.0% however last week closed flat with a minor gain of 0.04% and remains in a bullish phase since mid-May. Last week the index went back and forward without any clear direction with a narrow range and a narrow spread, closing in the middle of the weekly range, additionally closed within the previous week range, which suggests a being clearly neutral, neither side is showing control. Stochastic is showing an extreme overbought market although is still displaying a strong bullish momentum. Expecting a downward move to a weekly support at 2,364.50 (scenario 1) on the break below the previous week low at 2,456.75 and a bounce from the weekly support plus a break above 2,400.75 may set in motion another bullish run up to a Fibonacci extension at 2,549.02 (scenario 2).