It can be either bullish / bearsih breakout. But August NFP / September sudden stock market collapse will decide the direction of the trend.
(*Stock market usually collapse 2 months before the November election - Shemitah 7 yrs & Jubille 49 yrs cycle usually result in worldwide financial devastation)
1987 Infamous stock market collapse 1994 Bond market massacre 2001 Dot com bubble burst 2008 Sub prime mortgage bubble burst 2015 / 2016 Derivatives bubble burst or something else ???