Since the beginning of the year, the US Index gained over 5.0% additionally last week managed to increase more than 1.0% and remains in a bullish phase since early April. Last week the Index initially fell but found enough buying pressure near 1,592.4 to erase all of its losses and managed to close in the green but near the high of the week, in addition, closed above the previous week high, which suggests a strong bullish momentum. The stochastic is showing an overbought market although is still displaying a strong bullish momentum. The index poked the 1,619.0 (2018 high) that had been validated as an inflexion point/resistance signs that a potential bullish run is due to continue. Is it a true or a false breakout to the upside? We should look for some more confirmation before firing the bullish gun. Expecting a downward move to lower end of the weekly resistance at 1,592.4 on a break below the higher end of the weekly resistance at 1,619.0 (scenario 1) however a bounce from the lower end of the weekly resistance at 1,592.4 may trigger a bullish run to a Fibonacci expansion at 1,680.6 (scenario 2).