Price trends do not change easily. Based on the data I am analyzing, there is still no sufficient accumulation flow within the sideways range that began in February to support a true transition into a bullish trend. However, the market ultimately needs a process that shakes people psychologically. Some people need to give up, while others regain hope again. These emotional cycles continue to repeat, and the process itself is extremely extreme. I believe this is one of the biggest differences compared to the pre-ETF market structure. For me, the fear of becoming hopeful once again, only to be disappointed and unable to properly respond afterward, feels far greater than the regret of missing the exact bottom. I still believe this current structure is extremely difficult. But in the end, I think the market needs to shake participants this aggressively before people finally give up and only after that do the real results appear. Ironically, I believe the moment the market gives people confidence again may be the exact moment it delivers disappointment once more.(mignolet)