This wave of decline signals is very clear: market concerns about interest rates are intensifying. In early June, the market directly plunged without any chance of recovery, with institutions continuously withdrawing, and ETF net outflows reaching nearly $3 billion; last Friday, the US stock market plummeted, primarily because May non-farm payroll data far exceeded expectations, causing the market's expectation of rate hikes this year to jump from 50% to over 70%.

More importantly, there is a divergence in trend: Bitcoin has fallen over 30% since the beginning of the year, while the S&P 500 has risen 10%; but last Friday, the correlation between the crypto market and the S&P 500 returned to 80%, indicating that once the macro tone shifts hawkish, neither side can escape.
Next week, focus on three points for US stock positioning: first, Wednesday’s CPI data—if inflation cools down, it may ease rate hike fears; second, SpaceX IPO on Friday—whether it’s a liquidity drain or an emotional catalyst is worth watching; third, the end of earnings season—performance from Oracle and others may trigger individual stock volatility.
For long positions, maintain good defense, control position size, and short-term seek rebounds with light positions, entering and exiting quickly. Watch US stock trends, and be cautious of position risk if extreme market moves or a sudden plunge occur. Currently, market sentiment is extremely fearful; even if there is an oversold rebound, avoid heavy chasing.