Since the beginning of the year the US Index gain more than 4.0% but last week fell more than 1.0% and continues to hold its bullish phase since early November 2016 after the US elections. Last week the index fell with a wide range setting the stage for the beginning of healthy pullback and closed at near the low of the week, in addition managed to close below the previous week low, which suggests a strong bearish momentum. The stochastic showing a bearish momentum and crossed below the overbought zone. Expecting a downward move to a weekly support at 2,272.50 on a break below the previous week low at 2,331.50 (scenario 1) and a bounce from the weekly support at 2,272.50 may set in motion the bulls once again toward the Fibonacci extension at 2,439.00 (scenario 2).