The characteristic of the decline in the US stock market in the past few years is that the way it rises is mostly a reversal, rather than a long period of bottom building, such as double probing, triple probing, and quadruple probing. The war in March this year, the tariff war in April last year, and the cargo trade in August 2024. Essentially, it is a local bearish sentiment caused by the impact of news when there are no fundamental issues. As soon as the news changes, the market returns to the main theme of growth. So for the US stock market, as long as there is no problem judging the fundamentals, taking long positions is the top priority, and doing T requires giving up the idea of pursuing bottom buying. For example, in the past two weeks, if you still remember Micron, the impact of Google's latest architecture on storage and Micron's unexpected capital expenditures were all things that would cause panic if you read too much. In just 11 trading days, it returned to the vicinity of ATH. In February and March this year, AI was repeating the theory of the collapse of the Internet crisis in 2000, which was also believed by many people. So what exactly do we need to look at? One is to look at macro fundamentals, which includes basic economic data such as GDP growth rate, unemployment rate, and inflation in the United States. If there is no continuous negative GDP and no expectation of continuous interest rate hikes, then there is no macro problem. On the industry side, looking at the quarterly financial reports of leading companies, if the reports basically meet expectations, there will not be a real collapse. So every time you squat, it's actually an opportunity to buy and do T, and you have to give up the idea of buying at the lowest point. Only when several leading companies' financial reports fall short of expectations, should you truly be alert to whether the industry is overheated and should reduce its holdings.