Wall Street Week Ahead: Bulls, bears and wallflowers

(Reuters) - It's another one of those moments that always follow a big move in the stock market: Either you're a believer - or you're not. Right now, the market has its fair share of both.

The S&P 500 is up 12 percent so far this year. Through July, it had its best first seven months since 2003 and its second- best seven-month run since 1998. That sounds like a bull market.

But there is clearly a disconnect between the way markets have performed and the high level of caution among many investors. That is mainly due to the perception that things have the potential to go horribly wrong - incredibly fast.