After a period of increased volatility, both due to falling interest rate yields that triggered some small liquidations and rebalancing, and after the last Fed meeting where there was a hawkish message, investors returned supporting and triggering an upward move of key indices.

Indices maintain their upward trend and any corrective movements are regarded as normal and therefore it is very important for the medium-term trend that both the Nasdaq and the S&P 500, this week performed an upward break which, initially, is a very positive sign.

Even more limited is the fluctuation range of the S&P 500 as it has benefited significantly from greater diversification to various sectors, in contrast to the purely technological Nasdaq. Even the VIX volatility index, after a quick pass above 20, returned again to lower levels. Now remains to be seen if we will have the classic pattern that existed during the period 2010-2020, with the VIX moving upwards to the range of 22-25 points and then moving downwards even below 12. If this happens, will be the strong confirmation of another strong uptrend.