Is this the final trough of the market? My answer is for reference only, please do not be too rigid. At present, it is highly unlikely, and it may not even be close to the edge of the final trough.

This is not to say how much the market will fall, or to what point it will fall, but to say that the current situation is far from the worst situation, and in fact it is still quite far from the worst result.

Why? Because the expectation of interest rate cuts is still far away, we have not yet seen a channel for inflation to steadily decline. At present, the market's expectation of the Fed's interest rate cuts has dropped from three times in the dot plot to two times, and even more pessimistic expectations are one interest rate cut.

In this case, the risk of economic collapse is increasing. Even if it does not collapse, many investors are afraid to invest boldly due to concerns about economic problems.