U.S. stocks can’t rise by more than a few percentage points, and risks are building up

1. The three major IPOs are sucking in capital. I expect that after they list, there will be a move up, and then they’ll enter a high-risk period—profit-taking on selling/exit as expectations play out
2. Preventing entry is essentially protecting users; it’s a warning signal
3. We’ve already entered a bustling, noise-filled period
4. In the NVIDIA industry chain, all segments and the AI semiconductor supply chain are being deeply mined and priced by the Serenity faction, and there’s also an exit/selling demand
5. Privacy AI models; projects that help push AI model commercialization are a blow to large models
These are all objective events. The market can rise, but the upside is limited in the short term—watch the risks