Since the beginning of the year the index gained more than 4.5% yet last week closed flat near the open and is in a bullish phase since mid-July. Last week the index went back and forward without any clear direction and closed in the middle of the weekly range, nevertheless managed to close within the previous week range, which suggests being clearly neutral, neither side is showing control. The stochastic is showing an extreme overbought market however and is displaying lack momentum. Expecting a downward move to a weekly support at 4,739.25 (scenario 1) on a bounce from a Fibonacci extension at 4,884.00 however a break below the previous week low at 4,771.00 may force the index down to a weekly support at 4,640.00 (scenario 2).