These past two days are very critical; patience must be maintained.

Let's first look at the overnight performance of the US stock market. Last night was Christmas Eve, and the US stock market only traded for half a day, but the results were good— the S&P 500 index hit a new all-time high again. All three major US indices are trending upward, with the Dow Jones performing the strongest, up 0.6%; the Nasdaq up 0.2%; and the S&P 500 up 0.32%. It seems investors are still very enthusiastic about buying at the end of the year.

From an economic perspective, recent US data are indeed impressive. Especially, the third quarter GDP growth rate reached 4.3%, surpassing market expectations, which gave the stock market a strong boost. Coupled with the market's general expectation that the Federal Reserve will cut interest rates twice next year, this is a positive signal for global stock markets. In simple terms, the expectation of rate cuts will boost the valuation of risk assets.

The bubble theory of AI has long been abandoned, so technology stocks continue to lead the rally. Major component stocks like Apple, Microsoft, Netflix, Amazon, and Meta all rose slightly. Although Nvidia, Google, Tesla, and Intel experienced some pullbacks, overall, tech stocks are supporting the market. Interestingly, Nike surged 4% because Apple CEO Cook bought 50,000 shares. The actions of these big players can indeed move the market.

In the semiconductor sector, storage-related stocks performed particularly well. Micron Technology continued to hit new highs, rising another 4%, indicating that chip demand remains strong.

On the commodities side, oil prices rose slightly, gold fell by 0.3%, but silver performed well, rising 1% and hitting new all-time highs again. The global shortage of silver is already a given, but interestingly, this morning when monitoring A-shares, Guotou Silver LOF suddenly hit the limit down, which might be an opportunity.

Back to the crypto world, honestly, there’s nothing particularly worth analyzing right now. The best strategy is to stay out of the market and observe. In the next couple of days or next week, the market will give a clear direction, and then it’s just a matter of seizing the opportunity.