The 9-character head has yet to stabilize, and how this sideways market has lasted so long is not entirely hopeless. The key is that at 3 a.m. tomorrow, the Federal Reserve will release the minutes of the monetary policy meeting—this document may reveal their true attitude towards a rate cut in January—whether they will pause, and how long the pause might last. These remain uncertain. More realistically, as of now, the CME's probability forecast for a rate cut is only 16%, indicating that market expectations for a rate cut in the near future are becoming less optimistic. In other words, this Fed minutes could become the direct trigger for the next market move.