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S&P500/Nasdaq 100: Detour likely

Both the S&P500 and the Nasdaq100 have attempted a direct trend continuation, but failed in the last trading week. This has significantly increased the probability of my primary scenario. However, the upward trend in both indices is clearly intact, the only question is whether the bottom is already in at the 10-week average or only at the 30-week average. Looking at the CNN Fear and Greed Index and taking into account that the normal summer lethargy does not tend to occur in election years, I also believe that a volatile sideways movement is likely, in which the shares within the indices develop quite differently. This is because the "fear indicator" is still far removed from "greed" and therefore also offers potential for increases in the coming months.

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