Lately, I've been watching the market closely and found this wave of correction quite interesting. The S&P 500 has been hovering around 7,100 points these days, and yesterday it dropped another 0.49%, with a low of 7,115 points. It feels like a short-term decision point; if it can hold steady above 7,100, there might be a rebound to 7,320 or even 7,560. But if it breaks below, the risk of profit-taking selling pressure increases.

Gold's situation isn't looking great either; yesterday it fell 0.59%, directly breaking through $4,600, with a low of $4,567. The AO indicator suggests the market's bearish sentiment is strengthening, with support at 4,560 still in place, so further downside is possible. If it can recover above $4,600, it might challenge $4,800 or even $5,000.

Silver is also declining, with a 0.43% drop, currently stuck around $72. The overall trend is volatile downward, with short-term risks of fluctuation. If it breaks below $72, it could head toward $63.5.

The most critical factor remains the US dollar, which is the key to these commodities' prices. The dollar index has been oscillating between 98 and 99.5 over the past two weeks, near the Gann 2/1 line. The market lacks a clear direction, but this also marks a crucial turning point. Will the dollar continue to rise? My view is that, in the short term, it depends on whether it can break through 99.5. If the dollar index falls below 98, a medium-term downtrend might begin, with support at 95.2 waiting below. Conversely, if it recovers above 99.5, a new rally could be on the horizon. The Federal Reserve's stance will be critical; any hawkish signals will boost the dollar and put pressure on gold and silver, which are dollar-denominated commodities.