S&P earnings beat expectations—why is Wall Street still cautious? It’s afraid of overvaluation plus tightening liquidity margins. SK HYNIX is even more extreme: the funding rate is -0.1448%, shorts are crowded, yet the price is still at 1123, down 9.6% in 24h. Don’t look only at the 1-hour/4-hour trend turning upward—resistance at 1250 and 1236 is weighing down the market, and the strength of any rebound is questionable. In the order book, bids are 50 and asks are 26—buyers are dominant, and there is support for the short term. My take: 1120 is the long-side bottom line. Hold it to watch 1250; if it breaks down, look at 991. Strategy: pull back to 1120 to go long, stop-loss at 1100, target 1250. Note: trading volume is only $378k, slippage is big—don’t over-allocate. Risks: the funding rate is deeply negative, which makes it very easy for sudden wicks to trigger a long squeeze; if 1120 fails, stop-loss immediately and decisively.

——Only my personal opinion, not investment advice. Wishing you a successful trade.——