The logic of today's market adjustment was discussed in detail in this tweet yesterday, and it was also suggested last night to take profits appropriately. My personal opinion is simply that the US stock market is not simply 'about to collapse', nor is it 'mindlessly continuing to thrive'. It is more like a market with strong profitability, strong AI mainline, and a lot of short-term gains. It has encountered oil price shocks (turning attention back to oil prices) and long-term interest rate hikes, which have put pressure on valuation risk assets So in the near future, the US stock market will not switch between bull and bear, but will enter a volatile pricing trend driven by profit driven increases, where oil prices, interest rates, and AI fundamentals jointly determine the direction.