Brave bull markets $Dow Jones Industrial Average (.DJI.US)$...

Brave bull

markets $Dow Jones Industrial Average(.DJI.US)$  ， $Nasdaq Composite Index(.IXIC.US)$ as well $S&P 500 Index(.SPX.US)$ We were all indecisive; only Nasdaq weighed more deeply than others. It feels like the market wants to push 4030 even higher for a beautiful cup and handle. However, given the level we're at and the technical model we have, I still feel like this might be a bull market trap. Therefore, in my opinion, the market is more likely to push down from here, close to 3,800 points, and undergo a second wave of retreat.

Depending on the magnitude of the pullback, we may still rebound at the end of the year, or at least start a rebound at the beginning of the new year. Again, significant levels of price action will be critical. In fact, the retreat here is necessary, and it is also a sign of the healthy operation of the market.

Powell spoke again today. As always, many people will be critical of his words and wonder how he will lead the FOMC. I don't think he'll deviate too much from his position because he's gone this far to defend his hawkish stance and stick to his position. The good performance of the labor market gave him confidence to continue implementing quantitative austerity measures, even though inflation on the data side seemed to be weakening. So while the market is pressing for him and the FOMC to begin a turnaround, he may want to proceed with caution. While he can still be a hawk, he'd better be a hawk now. He may even be more hawkish than expected, taking the market by surprise. The market rose a little bit from a low point, and he even had a buffer to bounce back.

Therefore, I remain cautiously optimistic and do not plan to increase any positions at this stage. I'm very happy with my allocation. I've already received a lot of cash last week, and I'll wait until the second wave of the model is complete before deciding to increase it.

Stay safe! 😊