This time is more about reflecting on your previous trading and to perceive the emotional temperature of the market.

Because the message can be compiled, the technical side can be repeatedly verified, and the macro can be simulated and deduced.
But emotions are the only thing that can't be faked.

It is hidden in the eyes, hidden in the tone of the project party, and hidden in the ups and downs of the investors' words.
It is non-verbal, even anti-verbal.

The real market does not exist in the K-line, and it does not necessarily appear in the numbers.
It is in people's hearts, at the wine table, in the blank moments of a roadshow, in the avoidance and temptation of "what do you think lately".

After walking around this time, my biggest feeling is that the current market is neither cold nor hot.
It's more like a state of ambiguity before the borderline.

Some people shout that the cow is coming, some people are still waiting for the high point of the last round, some people ponder a new narrative, and some people don't dare to bet at all.

But it is precisely these intertwined and inconsistent voices that constitute a real "market psychology":
It is not a unanimous fanaticism, nor is it a complete clearance, but a restlessness that looks at each other and tentatively.

It seems to be silent, but in fact everyone is brewing.
Restraint, on the contrary, shows that the desire is still there.

So I don't say it's a cow now, and I don't say it's a bear.
More precisely, it is a period of accumulation of emotions and mental tug-of-war.

The feeling that you know the water is flat, but there's already force pushing underwater.

This is the most delicate and dangerous moment.

It's not the high tide of excitement, it's not the trough of clearing the field, but the eve of the storm as if the storm is about to begin."

At such a moment, content, investment, and observation do not rely on judgment, but on perception.
To confront one's own a priori position, to stay in uncertainty.

The real opportunity often does not come when you shout "coming", but when you perceive it in silence.

For every great change in the market, there is a period of such foreplay.
Emotions don't speak, but if you listen, it already tells you everything.

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