US stocks are in the eye of a ten-year storm

The market is currently basically in the eye of the storm. Geopolitically, Iran has blocked the Strait of Hormuz, oil prices are once again hitting $100, and external uncertainties have increased significantly. At the same time, at 8:30 AM ET, both the PCE inflation data and the GDP revision will be released simultaneously. With the combination of these two heavyweight data points, today is destined to be a day of high volatility.

However, judging from the pre-market futures performance, market sentiment has not been suppressed; instead, it continues to strengthen. A higher opening is basically a foregone conclusion, and it shouldn't be a problem above 6705.

The likely rhythm for today is:
First, a higher opening, followed by a period of consolidation around the 6700 level. As long as the gap from the higher opening is not filled, the market is likely to continue moving higher. Once yesterday's high is broken intraday, market sentiment is likely to be ignited, and the index will likely surge further. Simply put, how much it fell yesterday, it will likely see a rebound today.

The expected volatility range today is similar to yesterday, around 60-70 points, with several back-and-forth tugs likely in between.

Take a look at the reference levels:
Low: 6696, extreme low: 6686
High: 6755, extreme high: 6765

The trading strategy remains the same: look for opportunities to go long on dips to lower levels. As long as the gap is not filled, the long structure remains intact. If the rhythm is stable in the late session, you can consider pre-positioning some long orders for next week, but it's best to mainly observe over the weekend.

In today's market, rhythm is more important than direction. Just go with the flow. The above are my personal views, for reference only.$Tesla(TSLA.US) $Micron Tech(MU.US) $NVIDIA(NVDA.US) $Broadcom(AVGO.US) $SPDR S&P 500(SPY.US) $Apple(AAPL.US) $AMD(AMD.US) $Amazon(AMZN.US) $Lumentum(LITE.US) $Sandisk(SNDK.US)