After the 20th, Conan definitely won’t enter—and he’ll absolutely pat his thigh in regret.

Tomorrow at 02:00 AM, the Federal Reserve interest rate decision is about to take effect. The current market consensus is that the interest rate will be kept unchanged at 3.75%, and expectations for short-term rate cuts have completely cooled down.
With the global liquidity tightening environment continuing, the logic for risk assets being under pressure remains clear, and the overall bigger-picture downward trend has not been broken.
In the short term, the slight rebound on the board is only a corrective move during the decline; there is no basis for a reversal.
The trading approach stays the same: remain bearish. Every round of rebound is an excellent opportunity to short—when it rebounds, that’s the signal to short. Trade mainly by shorting at higher levels in line with the trend, and patiently wait for entry at high positions to avoid the risk of catching the bottom against the trend.