7/10 Personal Subjective Market Analysis:
Since Powell didn't say much yesterday, the market will certainly revisit the topic of interest rate cuts.
Regardless of whether there is a rate cut, the current market is stuck at the critical level of 2368. Currently, there are no significant bullish factors, so the momentum for a breakthrough is somewhat lacking.
If the downward trend line is broken, the upward space is somewhat limited. One should look at the key level of 2383 in a bullish trend.
If there is no breakout and the market pulls back, it indicates that the upward momentum is still lacking and needs a further downward movement to gain strength. For a bearish view, consider 2346 as the lower trendline support.
"The above is a personal subjective analysis and is for reference only. Please do not follow trades blindly; losses are at your own risk."
