Last night's U.S. stock market movement confirmed what I mentioned in yesterday morning's post: under the backdrop where AI fundamentals haven't been disproven, the short-term main downtrend may have already completed a significant portion, and the probability of consecutive sharp drops is decreasing. So, this week might not see continued plummeting, but the chances of a direct V-shaped recovery are low. It's more likely to be sideways consolidation or slow declines with reduced volume. Last night's performance was indeed like this. Of course, it's worth noting that last night's rebound was mainly concentrated in AI and semiconductor-related sectors, driven by a series of macro and industry-specific positive stimuli. I talked about this last night here: https://((x.com))/qinbafrank/status/2063978912984838620?s=20. Iran and Israel stepping back from conflict, Intel, Corning, Jensen Huang, and Elon Musk all stepping up with bullish remarks—this would have been a takeoff scenario in the past. Last night was a rebound, but it felt like a rebound that wasn't particularly strong. Another suppressing factor is the 10-year U.S. Treasury yield, which has wobbled back to 4.56%, likely due to strong non-farm payroll data. The market will closely watch Wednesday's CPI data next. The most critical point regarding tomorrow night's CPI inflation is whether energy inflation has already transmitted to the service sector. The key lies in the year-over-year and month-over-month trends of core CPI. I also discussed this last Friday here: https://((x.com))/qinbafrank/status/2062912854983086556?s=20. This post is sponsored by @bitget_zh: 'Bitget Buy U.S. Stocks: Instant entry, seamless trading.'