At the beginning of 2026, the U.S. stock market is extremely hot. The Nasdaq and S&P 500 rose moderately, with only the Dow slightly tired. Historically, the Nasdaq was easy to outperform other indexes in January, and this time was no exception.

What really pulls up is the old line - artificial intelligence. The semiconductor sector directly led the gains, with Nvidia, Intel, and Micron leading chips rising, driving the entire technology sector upwards. Tesla's side is a bit hanging, and annual deliveries have declined again, putting pressure on the stock price.

Interestingly, this AI boom is not only in the United States, but also in Asia. Hong Kong's Hang Seng Index and South Korea's Composite Stock Price Index both rose more than 2%, and South Korea was even more fierce, directly hitting historical highs. Britain's FTSE 100 index stood at 10,000 points for the first time, and even the index with low weights was ignited by optimism.

The most critical background is that the Fed is starting to loosen. Once the central bank releases liquidity, capital activity rises, and it is difficult for the currency circle to stay out of the matter - this has been the case every time in history. So there is a high probability that there will be a good chance of rebound next.

However, in the current market, bears should be cautious. Don't rush to intervene, wait and see. Only when the price hits a key pressure level is the real opportunity to open a position.