Wu Xiong has already written another article to elaborate on this problem. From the practical observation, Trump really likes to do things on weekends to avoid the impact on the stock market. This is also the logic behind last Friday's plan to bet on using force against Iran over the weekend by short selling when there was an upward push. However, we do see that not every time Trump makes trouble, it will fall immediately. Sometimes, it is true that the currency circle will fall with the threat of Trump. But sometimes, like this morning, when a threat is made and there is no response for two days, then suddenly and unintentionally diving. For me, the principle behind it may also be like guessing blindly. Crisis is graded, and there are always people who have a lot of insider information who will rush to escape, and then the information will spread step by step to trigger a reaction. The threats to Greenland this week and the easing of the situation in Iran are not significant geopolitical changes, at least the impact is smaller than Maduro's arrest. The impact and urgency of these two events may not be sufficient to trigger a short-term large-scale panic, so the big pie will only retreat from 97 to around 95, and this 2000 point retreat may represent the risk aversion of this portion of funds. We know that Wall Street traders don't work on weekends, and the liquidity provided by market makers on weekends is also very thin (usually only robots are running). The impact of macro events (such as Trump tariff and geopolitics) on asset prices needs to be quantified by US bond yield and US dollar index. These two markets were closed over the weekend, and institutions were unable to accurately calculate how big this matter was, so large funds chose to remain inactive. The situation this morning is that although the US stock spot market is closed on Monday, CME's stock index futures opened normally at 6pm Eastern Time on Sunday (Monday morning Beijing time). On Monday morning, as soon as US stock futures opened, institutions hedged risks by shorting futures. The sharp drop in Nasdaq futures indicates that Wall Street believes this macro bearish sentiment is severe. And today the US stock spot market is not open, which means there is no buying support from ETFs, nor is there trading volume of spot stocks to smooth fluctuations. In low liquidity situations, selling exceeds buying, resulting in a rapid short-term plunge. After understanding this pattern, the next time you encounter a "major weekend bearish" and "the price of the currency does not fall", don't rush to buy at the bottom or go long. Pay close attention to Monday morning from 6:00 to 8:00 (Beijing time), which is the opening time for US stock futures. If the Nasdaq futures (NQ) opened low and fell low at that time, it would be a true "buy in" signal, and that would be the best time to take advantage of the situation (or avoid risks).