The root cause of today's decline is the Iran War. The IEA Director General publicly stated today that this energy crisis is directly compared to the oil crisis of the 1970s, The price of diesel in the United States has surpassed $5 per gallon, reaching a new high since 2022. Once oil prices remain high for a long time, inflation cannot be suppressed, The Federal Reserve has no room for interest rate cuts, and this logical chain has been re priced by the market today. Meanwhile, gold continued to weaken this week, with even safe haven assets falling, It indicates that funds are not fleeing to safe havens, but rather an overall outflow, with liquidity shrinking across the board. According to the Fear of Greed Index 8 (extreme fear), it has hit a recent low. It is rare in history for the fear of corruption index to drop to single digits, and every time such extreme readings occur, Often, it is a signal that the medium to long term layout window is approaching, but it does not mean that it will rebound tomorrow. The Iran War, soaring oil prices, and the Federal Reserve's failure to cut interest rates are still weighing on these three mountains, and they will not disappear automatically in the short term. The most important thing now is not to find buying points, but to manage the stop loss and survive in order to wait for the real opportunity.