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Trebor_Namor

SPY and NDAQ looking to breakout

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S&P 500 E-mini terminer (CME_MINI:ES1!)  
Trebor_Namor  
CME_MINI:ES1!   S&P 500 E-mini terminer
Support and Resistance Pivot Points Trend Lines SPDR S&P 500 ETF (SPY) NDAQ Stocks trading Relative Strength Index (RSI) ao
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supportandresistance pivotpoints trendline spy ndaq stocks trading relativestrengthindex ao
The price on both charts are attempting a breakout of the previous resistance line. On this chart, you'll see we are currently testing a previous resistance line. The stock market could start to see a bullish rally for the next few months. We have CPI data coming out on Wednesday. Most investors will use this to see if Fed's will be dovish or hawish when it comes to fighting inflation. My opinion is that they will be dovish since we have seen inflation decrease in June. There are many people who still believe 75bp hike is gonna happen. Any rate hike under 75bp is bullish. August and September should be bullish months as well.

Indicators showing bullish momentum:
Stock price above previous resistance line
MACD is green
AO is about to cross zero line
RSI broke 50 value, and looking to break again
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