Let's first discuss Gold! The release time of today's non-farm data coincides perfectly with the point where Gold is ready to break through!
$ProShares Ultra Gold (UGL.US)$
It can be seen that Gold has reached the upper edge of the box range again and has touched the top for the fourth time. Today, under the circumstances where the non-farm data performance is not that bad, Gold should have failed to break out of the box and is likely to enter another oscillation, waiting for the right time to break through!
A month ago, I reminded friends that Gold definitely needs to adjust for a while and is very suitable for high selling and low buying!
Especially now, the Gold to Silver ratio is extremely high, approaching 100:1! The sharp rise in Silver prices yesterday was actually to reduce the Gold to Silver ratio. The reasonable range for the Gold to Silver ratio is generally between 60-70:1, and the sharp rise in Silver prices yesterday actually provided support for breaking through Gold. However, after the failure of the Gold breakthrough and subsequent pullback, it means that Silver will not have strong growth momentum! $iShares Silver Trust (SLV.US)$ $Silver ETF (LIST2723.US)$ $Gold Futures (AUG5) (GCmain.US)$ $ProShares UltraShort Gold (GLL.US)$ $Gold (LIST2110.US)$ $Gold ETFs (LIST21038.US)$
Furthermore, Trump has been busy with his "Big Beautiful Plan," while showing less interest in the China-U.S. trade negotiations that are important for global stock markets. Besant also emphasized that "there is currently no...

$USD (USDindex.FX)$
The USD reached a new low last week when Iran retaliated against Israel! $XAU/USD (XAUUSD.CFD)$ $DB US Dollar Index Bearish Powershares (UDN.US)$
What opportunities will this bring?
It is very likely that, as mentioned in my previous article, the decrease of the USD will lead to a comprehensive decline in USD assets, as global capital will need to find new investment points, among which Gold is the most likely option! Additionally, undervalued Hong Kong and A-shares.
The chart from China Securities Co.,Ltd. shows that the Csi 300 Index and the Hang Seng Index are both negatively correlated with the USD. A decline in the dollar will lead to some capital inflow into the Chinese market, so the recent pullback in the Hong Kong A-shares could very likely be an opportunity! (This refers only to the indices)
$Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR.US)$ $Direxion Daily CSI 300 China A Share Bull 2X Shares (CHAU.US)$ $ProShares Ultra FTSE China 50 (XPP.US)$ $CSOP Hang Seng TECH Index Daily (2x) Leveraged Product (07226.HK)$ $CSOP HANG SENG INDEX DAILY (2X)LEVERAGED PRODUCT (07200.HK)$
At the same time, it has been reminded that the market bottom generally appears at the end of the interest rate cut cycle, which currently looks like it will be in June of next year. During the interest rate cut cycle, the U.S. stock market typically experiences fluctuations downward! $ProShares UltraPro Short S&P500 ETF (SPXU.US)$ $DB GOLD DOUBLE LONG EXCH TRADED NOTES (DGP.US)$ $ProShares Ultra Gold (UGL.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $2x Long VIX Futures ETF (UVIX.US)$
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The converging triangle is continually narrowing, one can wait for macro timing points that could lead to a price change. Based on the last article I posted, the landing of Trump's tax reduction plan in July is still the most likely breakthrough. The outcomes of the China-US negotiations may also cause fluctuations in the market, but the impact is likely minimal.
Currently, the market has fully priced in the outcomes of the China-US negotiations, and according to the 'diplomatic jargon' from the Chinese side, it can also be seen that there won't be significant negotiation results. June may mainly show high and narrow fluctuations.
$ProShares Ultra Gold (UGL.US)$ $Gold Futures (AUG5) (GCmain.US)$ $Gold (LIST2110.US)$ $Gold ETFs (LIST21038.US)$ $USD (USDindex.FX)$ $DB US Dollar Index Bearish Powershares (UDN.US)$ $U.S. 30-Year Treasury Bonds Yield (US30Y.BD)$

A downward revision of 100,000 is simply outrageous; there are only a few hundred thousand in total. This behavior from the Labor Department merely superficially upholds Trump's 'win' theory, while actually delaying the Federal Reserve's rate-cutting agenda, appearing strong but being weak and continuously hollowing out.
$U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ $U.S. 30-Year Treasury Bonds Yield (US30Y.BD)$ $Fed Rate Cut Beneficiaries (LIST22927.US)$ $JPMorgan Nasdaq Equity Premium Income ETF (JEPQ.US)$ $Invesco QQQ Trust (QQQ.US)$ $NVIDIA (NVDA.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ $2x Long VIX Futures ETF (UVIX.US)$ $ProShares Ultra Gold (UGL.US)$ $ProShares UltraPro Short S&P500 ETF (SPXU.US)$ $ProShares UltraPro Short Dow30 ETF (SDOW.US)$ $S&P 500 Index (.SPX.US)$

The U.S. small non-farm payroll data has exploded!
First, excerpt a piece of news:
According to a report released by payroll processing company ADP on Wednesday, job growth in the U.S. private sector slowed to almost a standstill in May, reaching the lowest level in more than two years, with signs of weakness in the labor market.
The data, known as the "little non-farm payrolls," shows that the U.S. added only 0.037 million jobs in May, revised down from 0.06 million in April, and far below the market forecast of 0.11 million, marking the smallest increase since March 2023.
I mentioned during the closed-door meeting with moomoo in mid-May! One should not trust the non-farm employment data released by the U.S. for May too much, as large downward revisions will become the norm! The U.S. Department of Labor operates under Trump's jurisdiction! Unlike the Federal Reserve, which will help Trump enforce America's "win" philosophy!
At the same time, I also reminded again in my article on May 30. The image is from my article on 5.30.
Trump has strongly urged the Federal Reserve to quickly cut interest rates regarding this news, but the Federal Reserve governors believe that 'the U.S. economic data remains strong', so investors generally think that the Federal Reserve will not cut interest rates in the June meeting.
However, after the "Big Non-Farm Employment Data" is released in June, the Federal Reserve may reconsider the inflation data from June, thus making a comprehensive determination!
$U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ $U.S. 30-Year Treasury Bonds Yield (US30Y.BD)$ $Fed Rate Cut Beneficiaries (LIST22927.US)$ $JPMorgan Nasdaq Equity Premium Income ETF (JEPQ.US)$ $Invesco QQQ Trust (QQQ.US)$ $NVIDIA (NVDA.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ $2x Long VIX Futures ETF (UVIX.US)$ $ProShares Ultra Gold (UGL.US)$ $ProShares UltraPro Short S&P500 ETF (SPXU.US)$ $ProShares UltraPro Short Dow30 ETF (SDOW.US)$ $S&P 500 Index (.SPX.US)$

The impact of Clause 899 on taxing foreign investors in the Great Beauty Act's representative version is significant!
Investments in Stocks and equity investments are secondary; if high punitive taxes are imposed on overseas investors in U.S. Treasury bonds, it will pose a significant sell-off risk for U.S. Treasury bonds!
The originally scheduled Federal Reserve meeting in June had many investors betting that there would be an interest rate cut, but due to recent favorable "paper data" and financial market stabilization, influenced by the investment market's focus on "winning" concepts, investors generally believe that the rate cut will be postponed to September.
At the same time, in June, attention should also be paid to the short-term repayment risk of U.S. Treasury bonds.This is clearly a significant issue, but it will not directly lead to the collapse of the U.S. bond market.
However, the Trump administration or the Federal Reserve will inevitably choose to sacrifice some political or other economic interests to inject liquidity into U.S. Treasury bonds to save them.(For example, "sacrificing" the U.S. Stocks.)
As U.S. Treasury bonds are a well-known issue, it will not be a crisis event. Referencing the subprime mortgage crisis in 2008, collapses always occur quietly and quickly.
Therefore, it is believed that U.S. Treasuries will inevitably face a storm in June, but ultimately will pass through it smoothly.The outcome will likely follow the old pattern: raising the debt ceiling, and the Federal Reserve printing money to buy bonds (this action may further weaken the Federal Reserve's space for interest rate cuts). $U.S. 1-Year Treasury Bills Yield (US12M.BD)$
Currently, not only the Federal Reserve holds U.S. Treasuries, but also other major economies around the world, and no one wants U.S. Treasuries in this world...