What kind of hell market are we experiencing? U.S. stocks plummet, Japanese stocks halt trading, gold crashes, and whales liquidate positions—— We are facing macroeconomic negative factors and a dual liquidity crisis, with global funds fleeing risk assets. The market is filled with bearish sentiment: My feeling is that we are not far from the cyclical bottom, the technical bottom may have been completed, and the next phase will be mainly oscillating, requiring emotional groundwork to be laid.